Capitalism: free enterprise and private ownership Communism: high taxes, no private property Socialism: same as communism)
Demand-Production-Distribution/Supply
Answer: Who owns the factors of production, and the methods used to coordinate economic activity.
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
there is no such thing as political economic systems, there are only economic political systems
1. what to produce, 2. how to pruduce, and 3. for whom to produce.
Demand-Production-Distribution/Supply
1. Political factors 2. Socio-cultural factors 3. Economic factors 4. Environment factorspolitical,socio-economic,heredity,environment,bahavior, and health care delivery systems
Answer: Who owns the factors of production, and the methods used to coordinate economic activity.
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
there is no such thing as political economic systems, there are only economic political systems
Karl Marx insisted that the type of government depends on economic and geographic factors. He believed that the economic structure of a society influences its political structure and that different economic systems would result in different forms of government.
What economic factors helped strong monarchies develop? A centralized systems of taxation. Fostering trade, both internally and externally. Feudal aristocracy Stable and centralized governments
1. what to produce, 2. how to pruduce, and 3. for whom to produce.
yo wats up!! ... there are 3 types of factors...physiological factors, economic factors, social factors....
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
why dp cultures develop economic systems
examples of non economic factors