The difference between communism and socialism is if the government operates and controls all production in a nation this is communism. Socialism is different because the government in a nation can operate federal businesses but individuals can own a businesses .
Traditional Economic System- A traditional economic system is one in which people's economic roles are the same as those of their parents and grandparents.
Market Economic System- A market economic system is one in which a nation's economic decisions are the result of individual decisions by buyers and sellers in the marketplace.
Command Economic System- In a command economic system, the main decision maker is the government. No person may independently decide to open and run any kind of business.
-ron-
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment