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Economic Systems and Macroeconomics
By: Rafael, Pedro, Marcus and José, .…
Economic Systems and Macroeconomics
By: Rafael, Pedro, Marcus and José
Mixed
The mixed economic system is defined as an economic system that combines the elements of a market economy and the elements of a planned economy. Most economies in the world today are
mixed.
Examples of countries that have a mixed economy: India, Sweden, Norway, United Kingdom, France, Brazil, China, United States and Canada
Free markets and government involvement coexist in a mixed economy, where private and state businesses coexist. A mixed economy has the advantage of improving societal welfare and producing and allocating resources more efficiently.
Socialism
Socialism’s objective is to keep prices low for all people to be able to buy it and to give job for the population.
Examples of big companies controled by he Brazilian government: EBC, Correios, Banco do Brasil, Petrobras, Caixa, Eletrobras, Embrapa…
The government usually have the control of big companies, normally in telecommunication, mining, transportation and baking.
TRADITIONAL
Economy is shaped largely by custom or religion.
Customs and religion determine the
WHO, WHAT, and HOW.
Example: India has a caste system which restricts occupational choice. (A social class separated from others by distinctions of hereditary rank, profession, or wealth.)
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Command
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An economy with centralized government control over the means of production and output levels is known as a command economy. Free-market economies, whose prices and output are set by the law of supply and demand, are distinguished from command economies.
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Limited Resources
Scarcity
Many underdeveloped countries have natural resources, but not enough capital or skilled labor to develop them
Difference between wants, needs, and natural resources
Worker Incentives
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Bonuses, tuition reimbursement, team retreats, flexible schedule, gift cards, and more.
MARKET
A global market is where goods, services, and labor are exchanged throughout the entire world. An ideal global market requires product and service standardization so that goods and services can move freely across the globe. Market participants must also have trust and confidence in this global market
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