Question
what are the four kinds of economic systems?
Answers
Ms. Sue
Please check your text materials for four kinds of economic systems. You may be looking for capitalism, socialism, communism, and bartering.
This site lists dozens of economic systems.
http://en.wikipedia.org/wiki/Economic_system#List_of_economic_systems_by_Name
This site lists dozens of economic systems.
http://en.wikipedia.org/wiki/Economic_system#List_of_economic_systems_by_Name
Anonymous
In a centrally planned economy, most economic decisions are made by the government. An example today would be North Korea and Cuba, but the Soviet Union before 1991 is a great example.
A market economy is where the decisions of households and firms interacting in markets allocate economic resources.
The last is a mixed economy and that is exactly that. It is mainly buyer and seller based, but the government has a say in specific allocation of resources.
A market economy is where the decisions of households and firms interacting in markets allocate economic resources.
The last is a mixed economy and that is exactly that. It is mainly buyer and seller based, but the government has a say in specific allocation of resources.
Militza
Briefly describe the main attributes of the following economic systems: market economy, centrally planned economy, and mixed economy.