What are economic systems, Business Economics

Assignment Help:

What are economic systems?

An economic system is the system of organisations utilized by a society to solve the economic difficulty of what how and for whom to make. There are four types of economic system.

a. Traditional economy

b. Free market economy

c. Planned or command economy and

d. Mixed economy


Related Discussions:- What are economic systems

Price Discrimination, Suppose a monopolist produces at constant marginal co...

Suppose a monopolist produces at constant marginal cost and is able to discriminate between two groups of consumers. The demand in each group is linear. Would the monopolist discri

What steps are needed to ensure proper change control, Changes frequently b...

Changes frequently bedevil IS projects. What steps are needed to make sure that proper change control is exercised onto a project? An effective change control system involves t

Difference between absolute and comparative advantage, What is the differen...

What is the difference between absolute and comparative advantage? Difference between absolute and comparative advantage: • Absolute advantage arises while a country or reg

Circular flow, the central problem facing a group of survivors on a ship

the central problem facing a group of survivors on a ship

What are the disadvantages of informal economy, What are the disadvantages ...

What are the disadvantages of informal economy? Disadvantages of the informal sector are as illustrated below: • don’t pay direct taxes; • Can produce important pollutio

Statistically significantly, Suppose that historically, the proportion of p...

Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-

What is suitable technology, What is suitable technology? Technology is...

What is suitable technology? Technology is suitable when this employs methods which make the best use of accessible resources that is labour-intensive, straightforward techniqu

Elasticity, why does the quantity of salt demanded tend to be unresponsive ...

why does the quantity of salt demanded tend to be unresponsive to change in its price?

M & E, CHALLEGES FACING BUSINESS ORGNIZATION

CHALLEGES FACING BUSINESS ORGNIZATION

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd