• Гідрологія і Гідрометрія
• Господарське право
• Економіка будівництва
• Економіка природокористування
• Економічна теорія
• Земельне право
• Історія України
• Кримінально виконавче право
• Медична радіологія
• Методи аналізу
• Міжнародне приватне право
• Міжнародний маркетинг
• Основи екології
• Предмет Політологія
• Соціальне страхування
• Технічні засоби організації дорожнього руху
• Товарознавство продовольчих товарів

ECONOMIC SYSTEMS

An economic system is the way in which a country uses its available resources (land, workers, natural resources, machinery) to satisfy the demands of its inhabitants for goods and services. There are three main economic systems: planned economics, market economics, mixed economics.

Planned economics are economics with large amount of central planning and direction, when the government takes all the decisions, the government decides production and consump­tion, the government owns all the major productive resources. Changes in demand are difficult to predict, that's why some prod­ucts are overproduced, the other ones are underproduced. Delays and queues are typical features of planned economics. The former USSR and some other eastern bloc countries are examples of countries where government decision were dominant.

In a true market economy the government plays no role in the management of the economy. The system is based on private enterprise with private ownership of the means of production and private supplies of capital. Workers are paid wages by employers according to how skilled they are and how many firms wish to employ them. Consumers spend more on products and services which they like. In a market economy it is consumer who decides what is to be produced. Consumers pay high prices for products they like. The economy adjusts automatically to meet changing demands.

A mixed economy contains elements of both market and planned economies. It lies between the two extremes of com­mand and market economies. In mixed economies some resourc­es are controlled by the government while others are used in re­sponse to the demands of consumers. Practically, all the econo­mies of the world are mixed. For example, Hong Kong has some state-controlled industry, while Cuba has some privately owned and controlled firms. In a mixed economy the government and the private sector interact in solving economic problems. The U.K. is a mixed economy: some services are provided by the state (health care and defence) while a number of privately owned en­terprises offer other goods and services.

TEXT 18

Читайте також:

1. ECONOMIC RELATIONS
2. Economics. Microeconomics. Macroeconomics
3. FEEDING SYSTEMS FOR LIVESTOCK FARMS
4. Microeconomics
5. National Character of Stylistic Systems
6. SYSTEMS OF THE BODY
7. Text B. Planning and Justifying Factory Automation Systems
8. The economic processes
9. Theme: application of a rule of the lever in двухкомпонентных systems of knitting materials. System Al2O3-SiO2., Na2O-SiO2
10. Topic 1: Subject and methods of the economic theory – 1 hour
11. WHAT IS ECONOMICS?

Переглядів: 804