2006-06-08 03:02:34 · 3 answers · asked by bear 3 in Social Science ➔ Economics
any types of economic system
2006-06-08 03:30:19 · update #1
any type of economic system
2006-06-08 03:30:23 · update #2
Economists find that there is generally a trade-off between a society's wealth and its equality. The less people are forced to share with other people, the harder they will work. Laissez faire capitalism tends to promote the greatest wealth for society, as measured by GDP, but leads to large disparities in income between the poor and the rich. Communism, on the other hand, attempts to ensure relative equality among citizens, but results in a low standard of living for everyone.
2006-06-08 07:20:48 · answer #1 · answered by nostrategyguy 2 · 0⤊ 0⤋
Of which economic system?
2006-06-08 03:19:23 · answer #2 · answered by thunderpigeon 4 · 0⤊ 0⤋
Okay, here goes:
Capitalism: Pro - efficiency, Con - instability in the short run
Communism: Pro - price stability, Con - poor quality and supply, large black market
2006-06-09 03:51:29 · answer #3 · answered by Veritatum17 6 · 0⤊ 0⤋