Allocation and Economic Systems

A system in which societies or governments organize and distribute available resources, services, and goods across a geographic region or country.

• Allocation system

• Market System

• Economic System

• Technological System

This type answers problem based on traditions, customs, beliefs, and norms of the society

• Market Economy

• Command Economy

• Mixed Economy

• Traditional Economy

It is an economic system where two forces, known as supply and demand, direct the production of goods and services.

• Command Economy

• Mixed Economy

• Market Economy

• Traditional Economy

It deals with the extensive land ownership. The basis of man's power depends on the ownership of land.

• Monarchy

• Aristocracy

• Feudalism

• Tyranny

an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

• Market Economy

• Capitalism

• Marxism

• Feudalism

Economic decisions comes from a central authority and people are expected to abide by those decisions.

• Free Economy

• Command Economy

• Mixed Economy

• Traditional Economy

Which of the following is an example of Mixed Economy?

• Communist and Socialist

• Agriculture

• Free market

• Traditional

An economic movement were accumulation of gold and silver is the main goal of the economy.

• Feudalism

• Facism

• Tyranny

• Mercantilism

Which of the following is a characteristic of a capitalist economy?

• Freedom to accumulate wealth

• Decentralized decision making

• Prices are based on market price

• All of the above

is a system that combines aspects of both capitalism and socialism. It protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.

• Free market

• Feudalism

• Mixed Economy

• Traditional Economy