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Types of Economic Systems
Study notes, multiple choice and case studies
Concepts
The Free market Economy
Advantages of a Free market economy
Disadvantages of a Free market economy
Centrally planned/ Command Economies
Advantages of of Centrally planned/ Command Economies
Disadvantages of Centrally planned/ Command Economies
The Mixed Economy
TOPICS
The economic problem
Types of economic system
The resources and production
Population
Demand, supply and price
Revenue, cost and profit
Wages and trade unions
Business Organisation and Finance
Growth, location and Market structure
International trade and payment
Money and financial institutions
Public revenue and expenditure