Success Roar Classes

Mixed Economy

Central Problems of an Economy

Synopsis There are three CENTRAL problems which are found in every economy – “What to produce?”, “How to produce?” and “For whom to produce?”. Introduction Central problems of an Economy refer to those problems which are faced by all economies whether it is developing or developed, whether it is capitalist, socialist, or mixed. The three …

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Types of Economy

Synopsis Capitalist Economy, Socialist Economy and Mixed Economy are the three different types of economies in the world. Introduction In today’s fast-growing world, we will only find complex economies that can be further classified based on their motive of carrying various economic activities. There are some economies whose motive is either social welfare or profit …

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