100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
STUDY GUIDE $7.50
Add to cart

Class notes

STUDY GUIDE

 4 views  0 purchase
  • Course
  • Institution

UNLOCKING THE POWER OF BEING A CRITICAL THINKER. EXPERIENCE THE DIFFRERENCE TODAY.

Preview 3 out of 30  pages

  • October 8, 2024
  • 30
  • 2024/2025
  • Class notes
  • Miss sikhunyana
  • All classes
avatar-seller
© VAN SCHAIK PUBLISHERS




Chapter 2:

Economic
systems

, OBJECTIVES


Describe the three central economic questions,

Describe the major differences between
traditional, command, market and mixed
economies,

Describe the salient feature of the market system,

Describe the major contributions of Adam Smith,
Karl Marx and John Maynard Keynes.

, 3 CENTRAL ECONOMIC QUESTIONS

WHAT goods and services (G&S) and in what
amounts to produce (output questions)

HOW to produce the G&S, i.e. how to combine
factors of production to produce G&S (input
questions).

FOR WHOM to produce G&S, i.e. who receives the
G&S (distribution questions).

The answer depends on the type of economic
system that is followed.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ngxizaprecious. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.50. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

52510 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.50
  • (0)
Add to cart
Added