This website uses cookies to ensure you have the best experience. Learn more

Assigment Essay

2173 words - 9 pages

Economic system is defined as the basic arrangements made by societies to solve the economic problem. There are three economic systems that classification by degree of government control. The three economic systems are Command Economy System (Socialism). A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. Example of country that under this economy system are North Korea, Cuba and Russia. Market Economy System (Capitalism) is an economic system in which economic decisions and the ...view middle of the document...

How the product is produced, what product is produced and for whom to produced are planning committees dictate by the government. The state plans the allocation of resources at three important levels. First is central government plan the consumption and investment by produce more capital goods to have the better economy and increase the economy growth rate. Nest is matching of inputs and outputs. Central government will plans the output resources required for each industry and firms. Governments will distribution of output between consumers according to their needs or the money incomes.

Now a day, many countries have become more open, but some country still maintain in command economy system, example like North Korea. North Korea is the country that fully focuses in command economy system or we can call it socialism. For example, the people in this country are strict control by the government. All of the property is own by the government. The government distributes job and house for their people. This related to the characteristic of command economy which is no any private property. Next, Government of North Korea has plan the trading with China. Import of the North Korea has 42% is from China; and 57% of export is to China. This is also one of the characteristic of command economy system which is government plan all the trading of the country. Besides that, government of North Korea distributes all of the articles for the daily use to their people, and set the prices of the product. This related to the command economy which government distributes of output between consumers according to their needs.

There are a few of the advantages for North Korea to maintain the command economy system. First advantage is social goals pursued. All of the basic needs like foods, house, health care and education are provide for the citizens by the government. Next, high investment and high growth of the economy is also the advantage of the command economy. Government North Korea plan to divert more resources into investment to increase the growth rate of the economy. Besides that, another advantage is it has the less of inflation and other economic problem; therefore, it makes North Korea have the stable of economy growth.

Besides of advantages, command economy system also has the disadvantages. First of the disadvantage is under command economy system, people in North Korea lack of freedom. They can’t choose or decide what they want, and what they don’t want. All of the things have already distributed by the government. Furthermore, expensive to administer the country is also one of the disadvantages of command economy. The complicated plans are likely to be costly to administer and involve cumbersome bureaucracy. Nest is shortages and surpluses. Some product in North Korea will be overproduction or underproduction if consumers are free to spend money incomes as they wish, and problems occur when their wishes change.

Market Economy System...

Other Essays Like Assigment

Assigment 1 Sustainabliity Essay

1265 words - 6 pages Effect of the natural environment from the construction industry Task 1 (p1) Features of the natural environment that could be affected: • Air quality • Ozone layer • Soil quality and natural drainage • Land scape • Land use • Green belt • Agriculture • Forestry • Country side • Heritage • Water resources • Water quality • Marine environment • Wildlife • Natural resources • Biodiversity • Natural habitat Air quality The

Financial Analysis Assigment-Vodafone

1928 words - 8 pages HOLD VODAFONE UK – Market price at 10/30/2015 closing price: 214.25£ YAO JIACHEN, LI MINQIAN, PENG XIANGYU & HO YUENMING – 10/30/2015 Activities Vodafone is a British multinational telecommunications company Sector headquartered in London and one of the most valuable telecoms brands in the world. Vodafone owns and operates networks in 21 Wireless communication 52wk range(GBP) 201.25--258.00 Vodafone Global Enterprise

Week One Individual Assigment: Descriptive Statistics and Probability Distributions Problem Sets

638 words - 3 pages Week One Individual Assigment: Descriptive Statistics and Probability Distributions Problem Sets QNT/561 Applied Business Research and Statistic Individual Assignment: Descriptive Statistics and Probability Distributions Problem Sets * Prepare responses to the following exercises from the text: * Exercises 80, 82, and 87 (Ch. 3) * Exercises 34, 36, and 38 (Ch. 5) * Exercises 45 and 62 (Ch. 6

EXP 105 Week 2 assigment

596 words - 3 pages EXP 105: Week 2 Personal Learning Profile A. LCI Results Pattern Combination Identify the type of learner you are in the box Dynamic Leaner Sequence Precision Technical Reasoning Confluence Record your LCI scores in the boxes provided. 28 28 22 21 Record the Level of Use in the boxes provided Use First Use First Use as Needed Use as Needed B. How I Use First, Use as Needed, or Avoid Sequence (Write a

Mat 540 - Jet Copies Assigment 1

750 words - 3 pages The simulation of Jet Copies can be done by generating random numbers from given probability distributions. The different steps of this simulation and assumption made are explained below. 1. Simulation for the repair time. It is given that the repair time follows Repair Time (days) Probability 1 .20 2 .45 3 .25 4 .10 ----- 1.00 To generate a random number from the above distribution, we use the following procedure. Generate a

Busines Terms

665 words - 3 pages “Assigment in Science” Asexual reproduction -is a mode of reproduction by which offspring arise from a single parent, and inherit the genes of that parent only; it is reproduction which does not involve meiosis, ploidy reduction, or fertilization. Binary fission -produces two separate cells, populations, species, etc., whereas multiple fission produces more than two cells, populations, species, etc. Budding -is a form of asexual

Self Reflection

823 words - 4 pages conclusion, it is a interesting experience while we are completing this assignment. Besides that, we get to know each other more and we have the opportunity to know our senior. We have to discuss and have a meeting to complete our assignment and this is where we can get know to each other more. We have to work well together and we divided the work load fairly among each other to achieve and finalize the assigment. Moreover, I have not just learned

Marketing Plan of Led Lights


Getting Ready

1327 words - 6 pages HOMEWORK ASSIGMENT Since the book is, in effect, a course in strategy, we think it is helpful to pull from our Kellog course syllabus, specifically the section describing the homework assignment : The evaluation of a firm’s strategy will not be satisfied by phrases such as superior marketing, superior inventory management, or superior product variety. The answer to the two key strategy evalution questions needs to be 7 to 10 single-spaced

Just for It

2200 words - 9 pages trips Exams Typically Teaching will consists of the following • AM Class 9am - 1pm • PM Class 2pm - 6pm • Electives are typically 3 full days 9am - 6pm (including lunch break) • Exam times displayed on timetable and will be confirmed prior to the exams • Formative Assigment Deadlines - will be managed via your module leader • Summative Assignment Deadlines ALWAYS 08.45AM GMT

The Separation Of Capital Ownership And Control

1577 words - 7 pages The argument of whether the separation of capital ownership and control is an efficient form of organization has constantly been a controversial issue. The criticism whether the controllers’ act is in the best interest of the owners’ wills never end as long as hired managers operate management. As the number of public companies has been increasing over the course of this century, meanwhile the American style of contact based corporation has

Related Papers

Assigment Essay

798 words - 4 pages Laboratory Instructor Guide   Lab  4:  Identify  Motherboard  Components  and  Form  Factors  (hands-­‐on)   Learning Objectives and Outcomes The  student  is  expected  to  demonstrate  the  ability  to  examine  and  investigate  the  different  types  of   motherboards  and  CPUs  used  in  a  computer.  To  demonstrate  this

Wiriting Assigment Essay

658 words - 3 pages Alyssa Gram Core 100 September 7,2015 Writing assignment #1 There have been laws made to make sure everyone was treated equally but, are we all truly treated equally? The existence of slavery for over 200 years has demonstrated that everyone was not treated equal. Enlightenment thinkers in the past such as, John Locke, have tried to change inequality in our country. In 1864 President Abraham Lincoln created the 13th amendment, which

Unit 3 Assigment 1 Essay

948 words - 4 pages Define the following terms: 1. Horizontal Cable : A type of inside cable designed for horizontal use in non-plenum areas. While horizontal cable must be fire retardant, the National Electrical Code (NEC) specifications are not as demanding as those governing the use of plenum cable or riser cable. See also NEC, plenum, plenum cable, and riser cable. 2. Backbone Cable : Backbone cabling is the inter-building and intra-building cable

Cultural Health Module Assigment Essay

684 words - 3 pages Cultural Health Module 2 Assignment Research the area of familial health traditions selecting one “health belief practice” providing a narrative explanation. Then provide an analysis of the health belief practice in the context of how it would affect health maintenance, health protection, heath restoration and healing. Introduction When reading about familial health traditions, the Chinese people have a long-standing history