1. Economies of the World
... . Obviously, officials run most, but what kind of economic system do they use? Some of the most important systems used today are capitalism, socialism, and communism (Anderson 1). Capitalism is an economic system in which the means of production are privately owned. Business organizations produce goods for a market guided by the forces of supply and demand (Oakley 2). Capitalism requires a financial system that enables business firms to ... happiness, and they have generally sought to realize these values by the abolition of the private-enterprise economy and its replacement by "public o...
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