GROUP 5 : NEWSJEANS

It is the Governments mechanism to properly distribute or allocate their country's natural resources to it's people.

• Command System

• Mixed System

• Economic Systems

• PPF

A competitive economic system that has their freedom in production with almost no government interventions.

• Mixed Economy

• Market Economy

• Traditional Economy

• Command Economy

PPF stands for —

• Production Possibilty Frontier

• Produce Possible Frontier

• Possibility Production Frontier

• Possible Production Frontier

an excess of production or supply over demand [small letters]

(a)  

4 types of Economic System in order;

1- underdeveloped economy

2- has extreme competition

3- Goverment decides everything

4- dual economic system

(small letters with comma, no space,

no need to type economy)

(a)