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Distinguishing Economic Systems

There are three main types of economic systems: 1) Market economy or capitalist economy, where individuals and private firms make major decisions about production and consumption (e.g. US, UK). 2) Planned economy or command economy, where the government controls production and allocation of resources (e.g. North Korea). 3) Mixed economy, which combines elements of market and planned economies (e.g. India, Bangladesh).

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141 views1 page

Distinguishing Economic Systems

There are three main types of economic systems: 1) Market economy or capitalist economy, where individuals and private firms make major decisions about production and consumption (e.g. US, UK). 2) Planned economy or command economy, where the government controls production and allocation of resources (e.g. North Korea). 3) Mixed economy, which combines elements of market and planned economies (e.g. India, Bangladesh).

Uploaded by

shohagduniya
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd

##Diference Economy System..

There are three diferent economic system in the world- a)Market economy
or capitalist [Link]-The economy of S! and ". #) $lanned Economy or
%ommand Economy or Socialist Economy. Ex- The Economy of %&'a( )orth "orea .
%)Mixed economy. Ex-The economic of #an*ladesh( +ndia etc.
[Link] Economy, ! market economy is an which the +ndi-id&als .r
pri-ate /rm make ma0or decisions a'o&t prod&ction and cons&mption. +t is also
known as free market economy or laisser-faire .
1.

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