The economic systems in the world
economic systems
are the ways whcich the cities
produces, organises, distributes
current systems
20th century 3 economic sistems
capitalist or market economy
comunist or planned economy
is planned and centralised by State
based on free market economy
(the law of suply and demand)
private property freedom to work and hire
become more widespread the mixed economy
production process is controlled
Private property and initiative don't exist
achieve collective benefit through policies
Subsistence economy
system based on production for self-consumption
There is no separation of work or mechanisation
market economy
the most widespread USA main model
global market is controlled
by companies called multinationals
They act outside of their country
they employ thousands of people
