| Economy |
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1.Economy is a Latin word which means housekeeping.
2. Economy is human activity his management and his environment. 3.The results of any human activity decide 3 question: 1) What and what quantity of goods and services to produce? 2) How to produce? 3) For whom to produce? 4.The economy is the system or structure of economic life in a country. 5. There are three types of management in economies. 6.An economy may be almost totally planned, as it was in the Soviet Union. 7.An economy may be almost totally unplanned, as it is the USA. 8.Or an economy may be a combination of planning and freedom of operation. 9.Examples of the latter are Japan and South Korea. 10.In a planned economy the government decides is what goods are to be produced and how they are to be marketed. 11.In a command economy a central planning office makes decisions on what how, for whom to produce. 12.Economy cant rely entirely on command, but there was extensive planning in many soviet bloc countries free market economy has no government intervention. 13.Between the 2 main types lies the mixed economy where market and government are both of importance. |
