Economic Systems
In the world, there are 3 main economic systems and every country falls into at least 1 of these economic categories. No country is categorized totally into one of these systems, but every country is uniquely mixed with combinations of the 3 systems ( capitalism, communism, and socialism.) Of the 3 systems, capitalism is the best economic system for a country because it offers people the right to own a business, allows people to keep more luxuries, and make as much money as they want. In capitalism, citizens are guaranteed the right to own any business. This offers anyone more control in the economy. If a person works hard, they can get paid for something they enjoy doing. In a communist system, you are assigned a job, whether you enjoy it or not. If you don’t enjoy where you work, it doesn’t matter because you get paid the same no matter where you work, there is no need to work hard. In a capitalist system, people are rewarded fo
You have the ability to determine how much money you make, in capitalism, by how hard you work. The basic needs for a person, such as water, food, clothes, cost the same for everyone no matter how rich you are. The leftover money you have, after your needs, goes towards your wants. If a person works just enough to cover his basic needs, then they won’t have any money left for extravagant luxuries. However, if a person works really hard, they’ll probably make more money. This money can go towards anything they want to. In a communist system, the government decides how you spend you money. The reward of working hard in a capitalist system is that you get to spend YOUR money how every YOU want to spend it. The problem with this is that if you spend your money incorrectly, you could end up homeless, jobless, and even foodless. In a communist system, the government will always insure that you have a job. The opposite is true in a capital
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3 systems,
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money capitalism,
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Approximate Word count = 634
Approximate Pages = 3 (250 words per page double spaced)
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