logging in or signing up economic system prrasantt20 Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 1693 Category: Business & Fin.. License: Some Rights Reserved Like it (0) Dislike it (0) Added: October 28, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Economic System : Economic System Capitalism, Socialism and Mixed Economy What is Economic System : What is Economic System Slide 3: An economic system is a consolidated form of different economic institutions. The institutional framework regulating the environment on economic basis. Slide 4: Elements of economic system- People Resources Reward Regulation Institutions Slide 5: Types of Economic System- Capitalism Socialism Mixed Economy Capitalism : Capitalism What is Capitalism? : What is Capitalism? Economic system under which all firms, factories and other means of production are the property of Private individual and firms. “A system of economic organisation featured by the private ownership” Slide 8: THIS IS THE OLDEST ECONOMIC SYSTEM IN THE WORLD. COUNTIRES LIKE BRITAIN, FRANCE, AMERICA AND GERMANY ETC. have such system. Slide 9: THIS IS THE OLDEST ECONOMIC SYSTEM IN THE WORLD. COUNTIRES LIKE BRITAIN, FRANCE, AMERICA AND GERMANY ETC. have such system. Slide 10: Capitalism was the predominant economic system till 1917. it is also named as free enterprise system. Slide 11: ADVANTAGE OF CAPITALISM- INCREASE IN PRODUCTION HIGH STANDARD OF LIVING TECHNOLOGICAL PROGRESS FLEXIBILITY LIBERTY Slide 12: DIS ADVANTAGE OF CAPITALISM- REGIONAL INEQUALITIES NO WELFARE OF THE SOCIETY UNEMPLOYMENT MONOPLIES Socialism : Socialism Slide 14: Introduction- First time it is introduced USSR after the revolution of 1917. Under this system govt. holds the ownership of the sources of production as well as in all economic activities. Slide 15: Features OF Socialism- Govt. ownership Central Planning Social welfare lack of competition emphasize on equal economic as well as social growth reduction in class distinction Slide 16: Merit OF Socialism- Greater economic efficiency a planned economy rapid economic growth greater freedom research & development Slide 17: Demerits OF Socialism- unreal work Loss of efficiency Loses of freedom misallocation of resources Mixed Economy : Mixed Economy Slide 19: Introduction- It is the mixture of capitalism and socialism. India follow the same system. Under this system govt. allocate the different-2 economic activities according to their importance. Slide 20: Features of mixed economy- Division of public and private sector. Government control Protection of labor Reduction of economic inequalities Freedom of consumption Free for Choice of occupation Slide 21: Merits of mixed economy- Economic stability Proper allocation of resources Rapid economic development Equal distribution of income and wealth Foundation of innovative levels Slide 22: De Merits of mixed economy- Conflict between two sectors Maximization of Un real work Un disciplined work Sign of weakness You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.