Topic: BASIC Economic Systems
Answers to Common Questions
What are the three basic economic systems?
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, co... Read More »
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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? Read More »
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What is China Economic System?
The People's Republic of China technically has a government planned and controlled economy, although they are moving towards a laissez-faire type of market at this time. They are the second largest nation in purchasing power in the entire w... Read More »
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Featured Content: BASIC Economic Systems
An economic system is a way of answering these basic questions, and different economic systems answer them differently. Many different objectives may be ... More »
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Answers to Other Common Questions
France has a mixed economic system, which means that the government and the public share regulating responsibilities over the entire economy. Read More »
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The economic system within an economy is the process and correlation between the production, consumption, and distribution of services and goods. Read More »
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The three economic systems are communism, capitalism and free enterprise. In communism the state pretty much controls the people. In capitalism monopolies are formed. In free enterprise the customer has all the control. Read More »
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Japan has the world's second largest economy. Their economy is very similar to the economy of the United States. It is a capitalistic nation. Read More »
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There are four types of economic systems. They would include the traditional, market, command and mixed economies. They all cover the item to be produced, how much should be produced, how should the good be produced and for whom. Read More »
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The answer is traditinal command and market. Read More »
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