Four Basic Economic Systems

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So it's our first week of class and our teacher in in South Africa. He left this assignment sheet with a TON of stuff to do. so on of the assignments is to make a chart explaining the more
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  • Y answered 6 years ago
Here are explanations in brief:

♦ Market economy (the basis for several "hands off" systems, such as capitalism).

♦ Mixed economy (a compromise economic system that incorporates some aspects of the market approach as well as some aspects of the planned approach).

♦ Planned economy (the basis for several "hands on" systems, such as socialism).

♦ Traditional economy (a generic term for the oldest and traditional economic systems)

♦ Participatory economics (a recent proposal for a new economic system)


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Other Answers (1)

  • Mr Stalkington answered 6 years ago
    Well first u must research each component individually, then you can put them all together. If I were to explain all this to u on YA it would be like a freakin' 50 page essay.

    South Africa...nice, nice!
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