Free IGCSE revision notes, IB revision notes, A level revision notes, CBSE, GCSE, O levels and other sylabus revison notes. With History, Biology, Chemistry, Maths, Physics, Business, Economics, English Literature, English Language, ICT, ITGS, Psychology, Anthropology and more free revision notes
CramPuppy - Free Revision Notes » Igcse » Economics » Economic System

Economic System

Share View PDF | Print View | Views: 1087 |

Each society has 3 questions to answer (the basic economic questions):

            What?

            How?

            For whom?

to produce

 

Economic System: the institutional (different countries answer differently) means by which limited resources are used to satisfy human wants

 

3 Types of Economic Systems

-          Command Economy or Centrally Planned or Collectivism

-          Free Market Economy or Capitalism

-          Mixed Economy

About the Author


by: Admin
Total views: 1087
Word Count: 492
Date: Sun, 21 May 2006 Time: 12:00 AM
0 comments


Rating: Not yet rated
Login to vote
CramPuppy - Free Revision Notes on Facebook

Comments

No comments posted.

Add Comment

You do not have permission to comment. If you log in, you may be able to comment.

Search


Normal Search:

Advanced Search
Tag Cloud

Community