0
Economic Systems
Economic Systems are various methods by which countries have structured their economies. The earliest economic systems were based on simple bartering, whereas modern economics has nuances between laissez-faire and free market on one edge of the spectrum and communism or centrally-planned economies on the other.
787 Questions
What economic system does Libya use?
Libya has a command economy. Also known as controlled or planned economy. This is where a government retains the power to decide how the nations economic resources should be allocated. It has complete control over how theses resources are used.
What is the role of the government in a economic system?
In Public Economics, the generally preferred purpose of the government in the economy is to allow for free operation unless there is incidence of market failure (e.g.) lack of competition; informational asymmetry; externalities; etc.).
Theme
What are four types of economic systems?
There are basically four kinds of economic systems:
1) Market economy-
An economic system in which individuals own and operate different factions of production.
Examples: Free Enterprise & Capitalism
2) Command economy -
An economic system in which government owns and operates all factions of production.
Examples: Socialism & Communism
3) Traditional Economy -
An economic system based on culture and tradition. Economy is based on agriculture and hunting.
Examples: Non-Industrialized agrarian societies.
4) Mixed Economy -
An economic system where both command and market systems are featured.
Examples: United States is not a pure capitalist country for there are forms of socialism instilled in it to benefit individuals in need of services and has minimum wages, however, free enterprise reigns in the U.S. China also has both forms of economy, however, the Chinese government controls the prices and production.
Socialism. Complete ownership by the state is Communism.
What was one goal of many people in the middle class?
There are possibly 3 goals of Middle class people...
- To earn money so that the day is passed in ease without any future planning. As they have ensured themselves that they will never get rich.
- To plan and earn money. And also to use it for the benefit of future. To multiply money and get rich...
- To work, and be slaves!
How does the monarchy style in each country affect its economic system?
Having a monarchy has no effect on the economic system of that country. Monarchies have presided over traditional economic states, mercantilist states, capitalist states, welfare-socialist states, etc.
liquid
mercantilism
What are the three systems of media ownership?
1. State Media Ownership - found in Iran, North Korea, Peoples Republic of China, Belarus and Middle East countries
2. Private Media Ownership - found in the US, UK, Australia, Japan, Philippines and Thailand
3. Community Media Ownership - found in parts of Africa, South America, and parts of Canada.
What economic system does a socialist country have?
Socialism (a classless stateless society based on production for use) will have to exist at a global level, so there cannot be a Socialist country. And there will be no ones or wages or prices, hence no economic system.
Three main economic systems of the world today?
Just different versions of capitalism, with varying degrees of state interference.
Most countries today operate under which of these economic systems?
Most countries today operate under which of these economic systems
What are two general types of economic systems that exist today?
Capitalism and capitalism: wages system, production for use, minority ownership of the means of production.
What are types of economic system?
Free economic system which is also called capitalist economy Centrally planned economic system which is also called the socialist economy Mixed economic system Military economic system
What is the most basic economic system?
Barter, as goods and services are exchanged without the need to establish any intermediary value(s) (monetary). A days worth of my strong back is worth . . . how many of your chickens?
What are the Economic systems countries?
http://wiki.answers.com/Q/What_are_the_Economic_systems_countries"
