Economic systems

Economic systems stay alive to answer the following questions:

– What to produce

– How to produce

– For whom to produce

The main systems are traditional, capitalistic, planned and mixed.

 

 

Economic systems

– Traditional- a subsistence economy where needs and wants were fundamental

– Communist (collectivist) – production is planned and all property is owned by the state.

–    Capitalist -little or no government have power over. Market forces state what is to be produced, how and for whom.

–    Mixed economy—a combination of communist and capitalist economies. Market forces are allowed to function, but government reins and regulates the system.

 

 

2 comments

  1. antonio st.rose - September 14, 2013 11:14 am

    got some info on tht page

  2. bernelle raveneau - September 25, 2013 12:49 am

    jus finish study this fuh my test 2mw

Have your say