We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Advantages Of Various Types Of Economic Systems - Assignment Example

Comments (0)
The resources that are available in an economy at a particular point in time are restricted. The purpose of the paper "Advantages Of Various Types Of Economic Systems" is to discuss the level of efficiency of the free market economy and the mixed economy…
Download full paper
Advantages Of Various Types Of Economic Systems
Read TextPreview

Extract of sample
Advantages Of Various Types Of Economic Systems

Download file to see previous pages... The economic system decides the amount and the mechanism of the resource allocation. The factors of production, the organizations, and the market forces comprise the economic system that interacts with each other with an aim to resolve the economic problems (Anderton, 2009, p. 30). This economic system is of various types depending on the impact of market forces on the system. A free economy is one in which the market forces are solely responsible for the determination of the price and quantity and the resources are allocated automatically without any kind of government intervention. On the other hand, in the case of the mixed economy, the market mechanism is allowed to operate but to a limited extent. In a mixed economy, there is the coexistence of the public and private enterprises in the economy. It has been argued by many scholars that the free market economy operates on a higher level of efficiency compared to the mixed economies. Analysis of the Statement In order to understand the level of efficiency of these two types of the economy it is essential to analyze the characteristics of these economies. A free market economy is characterized by the private ownership of the means of production. The government’s role is limited to the regulatory and legal aspects of ensuring the rights of the people. The people who are existent in the economy have the right to operate in the market and buy and sell goods and services at the price and quantities that are determined by the market mechanism. The government may have regulation in form of quotas or tariffs that does not hamper the free market environment in such economies (Samuelson and ? Nordhaus, 2010, p. 31). The market structure that is existent in such economies is based on the competitive framework. The decision making of the allocation of resources id decentralized because of each individual and decide how much to buy or sell in the market depending on the efficiency level.  ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Free market in the economical world and business
Free market stocks in financial markets imply those securities whose availability does not affect their prices, and thus their transaction is wide. In foreign exchange, a free market is a market where the exchange rates are not influenced by the government: they rise and fall freely under the control of demand and supply for currency.
12 Pages(3000 words)Assignment
Managing In A Mixed Economy
The transport industry in a global observance has had numerous challenges. One of the main problems affecting this industry is the management and the development of good strategies that are meant to improve service delivery to the clients and citizens of the nations involved.
12 Pages(3000 words)Assignment
Free Market System and Arguments in its Favour
This assessment will also include market failure and the steps United Kingdom government has taken to avoid market failure. Free Market System and Arguments in its Favour Free market system of resource allocation is based on the principles of supply and demand (Gregory & Stuart, 2003).
12 Pages(3000 words)Assignment
Being socially responsible is the key for organization success. Do you agree with this statement Support your viewpoints on t
Gone are the days when the single most prominent target of the business was to maximize a company’s profits on behalf of the shareholders. Currently, being socially responsible is inevitable. Corporations engage in corporate social responsibility for many different reasons.
7 Pages(1750 words)Assignment
You are free to choice the topic
Therefore, it not only refers to the sexual aspects of an individual, but also focuses on matters related to hygiene and also the reproductive processes of an individual. Ideally, communication of the need to maintain good reproductive health is the basic component that
1 Pages(250 words)Assignment
Mixed Blood
The writer has brought forwards two important questions for people who believe in the concept of race as a biological entity. The author questions the ability of humans to be differentiated according to their physical variations and how these physical attributes
1 Pages(250 words)Assignment
The Database Approach is more beneficial to businesses compared to traditional file-based systems... Discuss, making references to specific business examples, the extent to which you agree and/or disagree with this widely held view
It has been designed in a way that it gives access to an individual to different queries, whereas the file processing system only allows the individual to access the pre-determined information.
3 Pages(750 words)Assignment
Why do men commit more crimes than women
To begin with, men are more aggressive and less daring than women are, and this gives them an upper hand when criminal activities are considered. Secondly, most men wish to accomplish their
1 Pages(250 words)Assignment
How would you suggest this should be done Are any of these subsystems more or less important than any others
it is important to note that despite the differences that various subsystems might have, they are mutually dependent on each other and therefore, the overall objective of an organization can only be achieved when all the different sub-systems co-operate and work jointly (Espejo
1 Pages(250 words)Assignment
Is Free Cash better than dividend per share (DPS)
pany decides to spend it income it can attract more investors by expanding its operations or may seem unattractive to the investors if they cannot generate adequate revenue. The company may distribute profit to the shareholders either in the form of cash or dividend (Ehrhardt &
2 Pages(500 words)Assignment
Let us find you another Assignment on topic Advantages Of Various Types Of Economic Systems for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us