Three Major Economic Systems In The United States

My topic is based on economic systems. I am going to discuss what the three main economic systems are and what they have to offer to their county/society. The economic systems are going to be defined and discussed in great detail. They will include material along the lines of government involvement, ideologies, goals, features and geographic establishments. Furthermore, a brief history of the economic systems will be uncovered. Economic systems and culture are going to be examined. I will also review the importance of internationalizing firms being aware of the differences between economies. This will be explained by focusing on economic transition followed by a publication that displays two countries of opposite economic systems merging for the sake of higher profits. Last but not least, the government involvement in the free market system will be clarified. I am going to be explaining how

The three major economic systems are: centrally planned economy, mixed economy and market economy. All three different types of economies are based off of either individualistic values or collectivist values. Individualistic values are a dimension where self-importance and self-identity is of greater value compared to group goals. Personal achievements are extremely crucial to individualism because they develop competition within a society. This side of the scale holds representatives of the following countries: United States and Western Europe. Collectivists value family and group goals above individualistic needs. Individuals are urged to contribute to society and better it as a whole. It promotes unity, selflessness and family orientation. These traits describe counties such as: Korea, Japan and Brazil. The primary goal and responsibility of an economic system is to serve its society well and to achieve further economic