Cultural anthropology defines an economic system as the structures and processes that societies use to manage their resources and distribute goods and services. It examines how different cultures value, produce, and exchange these resources, considering factors like social organization, technology, and beliefs about wealth and value.
Marx developed the concept of a communist economic system where the means of production are owned collectively by the workers rather than by private individuals or corporations. In this system, there would be no private property and goods and services would be distributed based on need rather than profit.
It depends on the system,. Under capitalism the main goal is the making of profit. In Socialism the main goal is the meeting of people’s needs.
Equality justice and respect are the characteristics of an American system
The Nigeria financial system is an important segment of the economy that ensures a smooth flow of funds from the surplus spending unit to the deficit spending unit through process of financial intermediation.
This question is FALSE. The oil wells ARE expected to disrupt the sensitive economic system.
Djibouti's economy is dependent upon acting as a transit port for the region and as an international shipping and refueling center.
I believe the answer is mercantilism, which emerged during the early sixteenth century in the dawn of the Age of Exploration. Mercantilism is a political and economic policy seeking to advance a state above others by accumulating large quantities of precious metals and by exporting in large quantity while importing in small. http://www.thefreedictionary.com/mercantilism
Free Enterprise
A+
its a person that plans like how the moey will be spent
A free-market system, although there are no true free market systems. Government always meddles to some extent.
Some of the elements that make up an economy include the small scale retail sector and the large scale sector that includes imports and exports. The interplay of the elements can be classified into microeconomics and macroeconomics.
Mercantilism is the economic system that equates a nations wealth with the amount of its gold and silver. Mercantilism was in effect from the 16th to 18th century in France.
Socialism
1. Free trade policy
-Laissez-faire policy
Laissez-faire policy promotes free trae and free market.WEveryone in Hong Kong can start its business excep t for some industries such as the provision of public transport.Goods and services can be exchanged freely in the market.
-"Big market,small government"
Hong Kong government believes in the principle of"Market leads and governent facilities" and acts as a proactive enabler.It is active in the role of facilitating the functioning of the market and enabling the market to allocate resources efficiently.
-role of governemnent
The Hong Kong government plays role such as maintaing fiscal prudence and low and simple tax system,open and fair competition in the market,providing infrastructures such as airport and transport facilities,maintain laws and order,provide training and education opportunities to Hong Kong people to improve their productivity and competivity.
2. Externally-oriented,free market
-No trade barriers
Hong Kong governemnt doesn't impose any trade barriers such as tariffs or quotas.There's no foreign exchange control,as well as capital inflow and outflow control.Talents from Mainland and other countries are attracted to live and work in Hong Kong
- Free flow of information
Hong Kong's media enjoys a high degree of freedom.Business can quickly obtain changes in economic environment and make timely business decisions,this makes Hong Kong become and remain a global city for communication,trade,financial and business.
3.Legal legistry
After the handover in 1997, Hong Kong still uphold the rule of law and judicine independent.It doesn't follow the law used in Mainalnd but is based on common laws. The basic law aims at ensuring the stabilitya nd prosperity of Hong Kong.Business contracts are protected and enforced by the law,this enhances confidence of busnessmen and investors in Hong Kong.
4. Private property right
Private property right refers to the exclusive right to use,earn income from and transfer the property.This gives incentives to private property owner to make theh best use of their property an dearn the highest income.Property can be sold and bought freely in Hong Kong.Private property is respected and protetcte dby law,te respectation and proectiuon to the private property right facilities Hong Kong's business activities and economic development.
5. Productive manpower
hong Kong has a hardworking and skilled labour force who can adopt to changes.Labour relations between employees and employers are quite good. There're rare disputes between them. Businessmen are willing to take risks and explore new markets and introduce new products, they are very responsive to the market too.
What are the vital criteria use to jugde the performance of the various economics system
the merits of mixed market economy is it's characteristic possesion of the merits of both capitalistic and public economy.
John Adams helped to develop a stable government in various ways. He established a presidential cabinet, avoided war with England and France and stopped the Whiskey Rebellion among others.
Israel and Turkey have capitalist economic systems with a moderate degree of state investment. Saudi Arabia is petro-state.
Stalin ruled over a state capitalist system, but he didn’t create it.
right nowpresident barrack is trying his best to get the economy back up its just how hard it fell