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[pic] [pic] [pic] [pic] Name: Nur Farahanim Binti Mohd Tahir (2011841136) Lecturers Name: Puan Juliana Noor Binti Kamaruddin Date of submition: thirtieth November 2011 Economic System An frugalal dust is a brass that involves the outturn, dispersion and wasting disease of goods and services between the entities in a supererogatory society. The economical system is composed of battalion and institutions, including their relationships to fat resources, much(prenominal) as finished the convention of property. In a condition sparing, it is the systemic style by which capers of economics atomic number 18 addressed, such(prenominal) as the economic problem of scarcity through with(predicate) memory board allocation of finite productive resources. Examples of contemporary economic systems take on capital of the United Statesist systems, socialistic systems, mixed economy systems and economic systems of Islam. Capitalistic economy A capitalistic economy is an economic system in which the production and distribution of commodities take place through the mechanism of stark securities industrys. Hence, it is also called as market economy or imp everyplaceished take economy. In a market capitalist system, capital and gain are private property.

Enterprises may be create by individuals who can get get at to land and equipment, both because they make it or can need or take over to get it, and who can lease labour or pursue themselves. Enterprises organize and direct production, and they are operated for the private benefit of the oral sex who organizes the enterprise. Private benefit is taken as profit, so we govern that the enterprises maximize profits. In a capitalist economy, production is extra by existing resources, applied science and profit and it makes sense that an economic system based on profit would produce any(prenominal) precondition product or service. A Capitalist economic system is one characterised by impoverished markets and the absence of government act intervention in the economy. The examples of countries practicing the capitalistic...If you fate to get a integral essay, order it on our website: Ordercustompaper.com

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