Economic Systems

A detailed Summary of Economic Systems


In the world today there are primarily three types of economies and they are capitalism, socialism, and communism. The United States is an example of a capitalistic country, where Cuba is an example of a country adhering to Communism. These three economic types have scattered similarities as well as striking differences.

Capitalism is a system of economics governed b the will of the people and the doctrine of free enterprise. Socialism is a system where the government owns the basic means of produ



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Approximate Word count = 351
Approximate Pages = 1 (250 words per page double spaced)

Category: Politics

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