BAFF0023: The economic system is a way of organizing relationships among individuals, firms, and government agencies: Economics and Society Assignment, UIU, Malaysia

School

UNITAR International University (UIU)

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Assignment Type

Individual Assignment

Subject

BAFF0023: Economics and Society

Uploaded by Malaysia Assignment Help

Date

13/02/2023

The economic system is a way of organizing relationships among individuals, firms, and government agencies on how to make decisions when confronted with basic economic questions. There are three types of economic systems that are; Capitalism, Socialism, and Mixed Economy.

All these economic systems differ from each other in terms of characteristics, Merits and Demerits, and their economic decision.

Discuss the difference between those three types of economic systems. Give example or any related current issues to support your argument. Discussion must be based on an academic journal or any reliable reference.

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