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Essay Galaxy - Pure Capitalism, Market Socialism, and Command Economy Systems
Pure Capitalism, Market Socialism, and Command Economy Systems
There are many different types of economic systems including pure
capitalism, market socialism, and command economy. Each economic system
tries to deal with economic scarcity in its own way and each have there own
economic theories. To deal with scarcity they have set theories and facts
and experiments and through time we have learned the way each deal with
scarcity.
Pure capitalism uses complete private ownership to promote
competition in the economy. This promotes better production through
competition and limits the consumption of the scarce resources through
conservation. It makes the economic power widely dispersed and production
is maximized. The government role in the economy is little to none and they
use a policy of laissez faire. ....
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Number Of Pages: 2 |
Number Of Words: 547 |
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