Economy
An economy is the way that a society decides and then organizes which goods and services to produce, how much to produce, and how these goods and services will be shared among them in society. An economy is based around the idea of scarcity. Scarcity is satisfying unlimited wants with limited resources. We have to decide how and what to produce from limited resources. Having an economic system is very important to a country because it controls revenue, occupations and even what is in the markets or shops in a particular area. This means that the economy has a very significant role in the everyday lives of millions if not billions of people around the world. There are four types of economies that effect people in different ways depending on what type of economy they have. The four types of economies are: Traditional Economy, Market Economy, Command Economy and a Mixed Economy. These types of economies are enabling people to have a say in the economy which could lead to better education of the economy and it could also lead to corruption if there are lots of people in the market. However if you have a command economy that's the one with the government having all the power could lead to having a very plain and ordinary life for all the people in that country, but could also lead to unrest among the people around the country. So these are very different types of economies. Of you want to know which one is better read on.
An economy is the way that a society decides and then organizes which goods and services to produce, how much to produce, and how these goods and services will be shared among them in society. An economy is based around the idea of scarcity. Scarcity is satisfying unlimited wants with limited resources. We have to decide how and what to produce from limited resources. Having an economic system is very important to a country because it controls revenue, occupations and even what is in the markets or shops in a particular area. This means that the economy has a very significant role in the everyday lives of millions if not billions of people around the world. There are four types of economies that effect people in different ways depending on what type of economy they have. The four types of economies are: Traditional Economy, Market Economy, Command Economy and a Mixed Economy. These types of economies are enabling people to have a say in the economy which could lead to better education of the economy and it could also lead to corruption if there are lots of people in the market. However if you have a command economy that's the one with the government having all the power could lead to having a very plain and ordinary life for all the people in that country, but could also lead to unrest among the people around the country. So these are very different types of economies. Of you want to know which one is better read on.