The document defines different economic systems including capitalism, socialism, and communism. Capitalism is a system driven by private ownership and market forces, while socialism involves centralized government control of economic resources. Communism, as introduced by Karl Marx, aims for a classless society with common ownership over the means of production. The key features of different systems are private vs. state ownership, levels of competition, and how economic decisions are made. The document also discusses some potential benefits and criticisms of each system approach.

2. DEFINITIONS:
•
SET OF CUSTOMS LAW, THE LAW RULES RELATING TO THE
PRODUCTION, EXCHANGE AND CONSUMPTION OF GOODS AND SERVICES.
• AN ECONOMIC SYSTEM CONSISTS OF A SET OF CONTROLS TO DETERMINE HOW
MANY RESOURCES USED TO SATISFY THE REQUIREMENTS OF

3. THERE ARE 5 BASIC FEATURES OF THE ECONOMIC
SYSTEM:
• PROPERTY OWNERSHIP
• STARTUP COMPANY
• ECONOMIC INCENTIVES
• PRICING MECHANISM
• MARKET COMPETITION

4. TYPE OF ECONOMY SYSTEM
CAPITALISM
SOCIALISM
COMUNISM
MIXED
ECONOMY
ISLAMIC
ECONOMY

5. CAPITALISM
• Derived from the word capital (English: capital), which means "capital"
• This system was introduced by Karl Marx
• economic and social system that tends toward the accumulation of wealth by individuals
without government interference and seeks profit
• Capitalist economic system driven by market forces in determining the
production, cost, pricing of goods and services, investment and income
• capitalist thought this system creates an obvious disparity between the rich and the poor.
System contrary to this ideology was communism and socialism.
• In this system individu will own the source and wealth without any distrubted.

7. There solutions
economic
power
there is
economic
freedom
maximum
efficiency
there are
power users

9. misuse of
resources
effect
externalities
lack of
laborers
lack of public
product
monopoly power
exists

10. SOCIALISM
• This system is also known as the central planning system
• An economic system whose goal is to serve the society, is general, not
specific individuals.
• Factor of production or economic resources controlled by the
state, individuals are not given the freedom to have it.
• government is directly involved in regulating economic activity.

11. Fairness opinion distribution
Large scale production
As the owner of the factor of
production, government be able to
perform large-scale production
With the guarantee of individual rights
and restrictions on amassing wealth to a
handful of the country, the distribution of
income in the system more fair.
Expenditure without rival
Monopolists (the government) in
production can avoid
competition.Thus, production costs will
be lower.Low prices give welfare to
consumers.
Economic stability
Economy becomes more stable because
of the planning and control by the
government.

12. MISTAKES IN DECISION
LESS INITIATIVE AND
MAKING
MOTIVATION
Economic decisions are determined by a small
group of government at the federal level. Risk of
making wrong decisions is high, and this can affect
the welfare of the people.
Individual's right to acquire the basic necessities but
are not allowed to accumulate wealth independently.
This situation does not encourage them to continue to
work and work hard
NO DEVELOPING TECHNOLOGY AND
INNOVATION
Without competition, new technologies and innovations can not
flourishing. This resulted in the economic system continues to lag
behind and do not grow.

13. COMUNISM (SOVIET UNION)
• Introduced
by Karl Marx as the final stage in human society.
• Type promote socio-economic growth of a classless society based on common
ownership and control of the factors of production and property in general.
• The system aims to integrate the management of all economic resources.
•Main idea was simple: Free the lower class from poverty and give the poor
fighting chance.

14. • IN ORDER TO LIBERATE LOWER CLASS,THE GOVERNMENT WOULD HAVE TO
CONTROL ALL MEAN OF PRODUCTION.
• COMMUNISME IS A SYSTEM OG GOVERNMENT AND IDEALS WHERE ALL PEOPLE
ARE CONSIDERED EQUAL IN AN ATTEMPT TO CREATE A FAIRER SOCIETY.
• INHERITANCE AND OWNING A BUSINESS FOR PRIVATE GAIN FOR EXAMPLE IS
FORBIDDEN

16. Fairness distribution,all people get
Economic problems rarely occur
Any expenditure activities run smoothly
Can provide the perfect designation and sufficient labor

18. The freedom of each individual to progress stalled.
There is no competition between the public
People do not have any ownership of the resource
Encourage people to avoid work.
Collective ownership would not be efficient.

20. DIFFERENCE
CAPITALISME
SOSIALISM
KOMUNUSIM
SOURCE
OWNERSHIP
INDIVIDUAL
GOVERNMENT
GOVERNMENT
COMPETITION
MARKETING
HAS
COMPETITION
NOT HAS
COMPETITION
NOT HAS
COMPETITION
PRICE
MECHANISMS
FIRMS CONTROL GOVERNMENT
GOVERMENT
ECONOMIC
PROGRESS
FAST PROGRESS
SLOW
PROGRESS
SLOW
PROGRESS
TECNOLOGY
DEVELOPMENT
FAST
DEVELOPMENT
SLOW
DEVELOPMENT
SLOW
DEVELOPMENT