Types of economic systems.

1. TYPES OF ECONOMIC
SYSTEMS.
By Malwande Maduma.

2. Content
• What is an economic system?
• Types of economic systems
• Advantages and disadvantages of capitalism
• Countries that uses capitalism economic system.
• Advantage and disadvantages of socialism
• Countries that use socialism economic system.
• Advantage and disadvantages of communism
• Countries that use communism economic system.

3. Economy system.

5. Capitalism
• An economic system where individuals and corporations have the freedom to
own their own factories and businesses.
• Money 💴 is made by individuals making their own decisions.

6. Advantages of capitalism

7. Disadvantages of Capitalism
• Inequality
• Anti-social
• Pollution
• Lower employment ratio
• Exploitation
• War
• Propaganda

8. Countries using capitalism economy system.
America ( 🇺🇸)
South Africa 🇿🇦
Australia 🇦🇺
Russia 🇷🇺

9. • Is a term applied to an economic system in which property is held in
common and not individually, and relationships are governed by political
hierarchy. A primary goal of socialism is social equality and distribution of
wealth based on ones contribution to society and an economic aconomic
arrangements that would save the interest of society as a whole.

10. Advantages of socialism

11. Disadvantages of socialism
• Distorted price signals
• Suppression of economic democracy
• Slow technological advancements
• Minimize self managements

12. Countries under socialism economy
• Republic of Cuba 🇨🇺
• Lao people’s Democratic republic
• Socialists Republic ofVietnam 🇻🇳

13. Communism
• An economic system where everybody share equally the means of production and
the profit and loses.
• All decisions are made by central authority.

14. Advantages of communism
• Security
• Basic needs
• Equal rights
• Everyone would have a job, house 🏡, and health care 🏥

15. Disadvantages of communism.

16. Communist countries
• China 🇨🇳
• Ukraine 🇺🇦
• Vietnam 🇻🇳
• Mongolia 🇲🇳
• Afghanistan 🇦🇫

17. Reference lists.
• Zaman, A.(2014). Capitalism in crisis. Pakistan: Economic & Finance
• Swudin, MD.(2017). Economic systems. Banglades: Economy & finance
• Baig,FU.(2017).Capitalism and communism.Pakistan:Education
• Najam, M.(2017). Capitalism.Pakistan:Education
• Hadi, Abdul.(2016). Flaws of capitalism: Pakistan: Educationv c

18. Thank you 🙏