Economic Systems

22 February 2003 Essay Christina Neophytou

An economic system is a collection of institutions and organisations directing and organising ownership, production and distribution of goods and services.

The type of economic system that exists in Euphoria is a Market Capitalist System. This is a system used in countries like Australia, South Africa and the United States. Since most production, such as agriculture, manufacturing, banking and communications, occurs in the private sector rather than the government sector, private enterprise clearly dominates the market capitalist system. In the case of Euphoria, private enterprise dominates 70% of the system, while the government controls the remaining 30% of the system.

Below is an economic systems ...