Advantages And Disadvantages Of Economic System
Today, we’ll talk about the Economy System. In around the World, from the past to the future, there have a lot of things change including economies. Accordingly, it leads to the division, the formation of different economies, here are three types of it.
First of all, we take about the Traditional Economy, which have from the beginning. It’s an original economic system, which shaping based on traditional culture, and beliefs - what helps the goods and services consumed. Towards the majority rather than desiring of one person. To develop well and strong, loyalty and believe is two things are indispensable from both sides. Producer will decide how to use their resources reasonably and make the most money as they can. They’re dependency relationships between producers-consumers. They benefit each other when they act in self-interest. We can easily take an example. Normally an ice cream cost 1$, but when it have sales, you can buy 2 for 1 or 3 for 2. So that you felt happy, and producers were happy too. Because they can sell much more than normal. And some sales, it’s has something you don’t use much but you still buy because you felt it cheaper than other days. And producers can sell more and more. But everything all way have two sides. Advantages of this is have a little disagreement, method of production, produce what best ensures its survival. Besides, disadvantages of this economy is they’re less productive than they might be; have lower productivity and standard of
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