This document discusses the impact of mass communication on the economy. It provides background on different types of economies including capitalism, socialism, and mixed economies. Capitalism involves private ownership and profit maximization, socialism involves social ownership and centralized planning, and mixed economies involve aspects of both public and private sectors. The document then discusses how mass media relates to the economy through programs about stock markets, advertising, online shopping, and business experts' views. It concludes that mass media has impacted economies by changing production and distribution methods, increasing business levels, allowing easier advertising and reach, and providing more options for customers, though it can also enable unfair trade practices.

1. Impact of mass
communication on Economy
Dr J Balamurugan

2. Introduction
• Man is not only a social animal; he is also an economic being.
• He is incessantly engaged in what are known a economic pursuits or
activities.
• These economic activities are so multifaceted, varied and complex that
they constitute what is known as an economy.
• It is possible to view the economy as the present system, and analyze its
constituent clusters of activities -production, investment, innovation, and
so on-as themselves constituting sub-system.

3. Conti…
• The economic system provides this organisation by defining some
fundamental areas of activity such as production, distribution and
consumption.
• In all stages of social development, man has felt the need of food,
clothing and shelter.
• Economic activities are fulfil the needs of human being.

4. Forms of Economy
• Capitalism, socialism and mixed economy represent three basic ways
in which an industrial society can produce and distribute goods and
services.
• There are strong ideological differences between countries adopting
either strategy.
• In general, the American economy is a model of ‘Capitalism’.
• The Soviet economy is generally regarded as a model of ‘Socialism’.
• The Indian economy is a model of ‘Mixed economy’.

5. Capitalism
• There is private ownership of means of production.
• The economy is based on maximization of profit.
• There is a free market so that both production and wages depend
upon the laws of demands and supply.
• There are two classes of capitalists and workers or bourgeoisie and
proletariat.

6. Socialism
• Means of production are socially owned.
• The economy is based on the principle from each according to his
ability and to each according to his needs.
• There is centralized planning for both production and wages.
• It is a classless economy.
• This is a planned economy.
• There is no private owners of productive resources, there is no private
appropriation of the surplus created in production.

7. Mixed economy
• It is coexistence of both the public sector and private sector in the national
economy.
• Accordingly, the government classified industries into three categories.
• The state assumed the exclusive responsibility of the industries included in the first
category, these are arms and ammunition, railway, atomic energy, etc.
• The second category comprises industries which had to be progressively state
owned, but in which private enterprise also is expected to supplement the efforts of
the state. These are fertilizers, road transport, machine tools, essential drugs, etc.
• The third category lies the rest of the industries, including consumer goods industries
and their development has been lift to the private sector.

8. Functions of economy
• It satisfy the material needs of man.
• It satisfy man’s social and psychological needs also.
• People work not just for money, it is a key motivating factor.
• People work in society is a major key to social placement, evaluation
and recognition.
• Economy has become ‘central’ to the life of man today.
• The moral evaluation.
• The social evaluation.

9. Mass media programmes related to Economy
• Share market news
• Informal education
• Advertisement
• Fashion show
• Tele marketing
• Online shopping
• Business experts views
• Live vocational training

10. Programs

11. Budget live

14. Impacts
• Changes in the form of production
• Changes in the way of goods distribution
• Increase the business level
• Reach to all
• Easy to advertise about business
• Various option for customers
• Unfair trade practices

15. Thank you