Tag: economy
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Planned economy
Planned system Planned system is an economic system where resources are allocated by the, the state determines what is going to be produced. Example: USSR
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Advantages of market economy
Advantages of market system Price determination by supply and demand Choice is available in the market There is efficiency Buyers are free to buy any product Low prices due to efficiency
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Economic system
3 Economic systems Market system Planned system Mixed system
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Feature of Capitalist economy
Key features of own economy Key points to be mentioned: Pollution and global warming Sustainable development Impact on business upon depletion of natural resources Structure and importance of different sectors Illustrate the changes