Each system represents different answers to the four basic economic questions.
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
markets
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
Societies answer the three economic questions based on their values!
Each system represents different answers to the four basic economic questions.
Each system represents different answers to the four basic economic questions.
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
markets
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
Societies answer the three economic questions based on their values!
Three aplus answer
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
CompressorCondenserExpansion valveEvaporator
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice
The four basic rights on the private enterprise system are:Private propertyCompetitionProfitsFreedom of choice