Does the whole world use the same economic system?
No! The World many economic Systems, If you download and view the powerpoint I have created you will see that I have explained the four main economic systems of the World today.
Free (Capitalist)
Communist
Mixed
Transitional
Each economic system is completely different from each either which you will also notice. The transitional economic system is unique, this system is when a country switches from one system to another which also explained in the powerpoint. I have created this powerpoint to be quick simple and to the point so I don't go into great detail wit my information. I talk about the whole world as a whole and not each nation and its economic system. Each economic system does better then others, after viewing the presentation you can decide which system is the best economic system that a nation should follow.
Question 1
What are the four Economic Systems? Explain each one in one or two sentences.
Answer 1
Free Capitalist system- This system is a where Individuals own there own property, products and other services re exchanged in a free market, and are where goods and other wealths are invested to create profit. This system is favorable in democratic nations.
Mixed System- This system is a mix of both socialism and capitalism economic systems. In this system there are taxes to crete a well-being for people by providing public goods through taxes like bridges, parks, postal services etc..
Communist System- Citizens must trust and divide everything equally. The harder a person works get the same salary that a person who works with less effort, this is to keep citizens all equal.
Transitional system- This is a system when a nation goes from the central planned system to a free system. Many trade barriers occur causing more globalization.
Question 2
Which economic system do find to be the most successful and why?
Answer 2
I find that the mixed market is the most successful, this because of the good control it had amongst citizens of a nation. The tax idea is a great idea cause the richer the more you pay the poorer the less you pay, I find this to make sense. Also how this system provides public goods to citizens through taxes is fair because they are paying for keeping there neighborhoods stable and maintained well with parks, and other necessities.
Does the whole world use the same economic system?
No! The World many economic Systems, If you download and view the powerpoint I have created you will see that I have explained the four main economic systems of the World today.
- Free (Capitalist)
- Communist
- Mixed
- Transitional
Each economic system is completely different from each either which you will also notice. The transitional economic system is unique, this system is when a country switches from one system to another which also explained in the powerpoint. I have created this powerpoint to be quick simple and to the point so I don't go into great detail wit my information. I talk about the whole world as a whole and not each nation and its economic system. Each economic system does better then others, after viewing the presentation you can decide which system is the best economic system that a nation should follow.Question 1
What are the four Economic Systems? Explain each one in one or two sentences.
Answer 1
Question 2
Which economic system do find to be the most successful and why?
Answer 2
I find that the mixed market is the most successful, this because of the good control it had amongst citizens of a nation. The tax idea is a great idea cause the richer the more you pay the poorer the less you pay, I find this to make sense. Also how this system provides public goods to citizens through taxes is fair because they are paying for keeping there neighborhoods stable and maintained well with parks, and other necessities.