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Essay / Research Paper Abstract
This 8 page paper is written in three parts. The first part identifies and describes different types of economic system, outlining the characteristics values and the way in which they may be identified. The second part of the paper looks at the way social welfare and industrial policies may impact on the individual and the organization. The third part of the paper discusses the way macro economic policies may have an impact in national and international environments. The bibliography cites 5 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEeccquest1.rtf
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Unformatted sample text from the term paper:
that society. In any state there will be a different mix of available resources some may be plentiful and some scarce, with the system impacting on the way that limited
resources are allocated. Different systems use differing approaches to allocation. Two main models that can be contrasted are the command and the free market economy models; these are based on
different philosophical paradigms. command economy is one where there is a high level of central control. This is an economic model that has been associated with communist and socialist ideals
in the past. A command economy is one which is highly regulated by the government, as opposed to regulation and influence of market forces. Characteristics of a commodity economy
include or economic decisions being made by the government. It is assumed that government is best placed to determine what the market needs. The justification for this approach is the
assumption that firms will act out of self-interest, rather than in the interests of the society, and as such society and individuals within the society may suffer. The argument is
that a centrally planned economy can be more efficient and effective, not only in the production of goods but also in the distribution of the goods. For this reason a
commodity economy may also be referred to as a centrally planned economy. The way in which the command economy may manifest will depend
upon the underlying political structures that support this economic model. It is not uncommon to see the use of workers councils are utilized in order to determine what should be
produced by who. There are a number of command economies that can be utilized as examples, this includes the former Soviet Union, which for a period of time was the
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