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How did the world came to look as it does today?, which means, made…
How did the world came to look as it does today?
Lets start in the past...
The economic system was "centrally planned"
The government was the instution controlling production
INDUSTRIAL REVOLUTION
Less labor intensive
More capital intensive (wealth)
CAPITALISM
Free Market Economy
Capital goods
Economic System
which separated
Capita
causing
MARKETS
1 more item...
PRIVATE PROPERTY
2 more items...
FIRMS
5 more items...
Labor
other economic systems
Traditional Economy
Production and distribution
until the
Feudalism
"land for service", was controlled by lords
Mixed Economy
a combination of socialism
Lets continue with the present
which means
made overall economy
made overall economy
introducing
The new economic system was
is a
is related with
because it
where people own
that are exchanged in
where individuals own
are made to increase
can be
wich boomed the
is a kind of
as an
with
sell
that are sold in
which developed
to invest in
which lead to the increase of
which are measured by
were lead to growth by
in
lead to
in
can benefit
by trading
that increase
that can benefit
can build
use
represent
which show the increase of
which is
is related to
consisted of
consited of
and
protects
consists of
can be in a
have connections with
are regulated by
can be
which exclude
dull
incentives
play leading roles in
shows improvement int
are determined by
increases
that define an individuals
causes
which increases
lacks
affect
provides
such as