Economics System: Ownership, Behaviour & Distribution of Monetary Flow!

Posted by Casey Floyd on March 5th, 2019

Nowadays, students want to acquire knowledge of the world economy, since it has practical relevance and plays a significant part in the individuals’ lives.Economics is the study of monetary outflow or inflow from the resources of goods and services. It is the production, distribution, and consumption of monetary flow. This studies national income, domestic income, and information regarding the different transactions all over the world.  
Economics also involves concepts of inflation, supply, and demand of the goods and services, etc. throughout the world. Most of the students face problems in understanding the concept of economics whether it’s basic or professional level. They want to study the subject from expert economics professors who can help them explore different fields that are related to monetary flows and learn how money is circulated all over the world. During the process, they are often given assignments on the same. Students often seek economics assignment help from experts on different concepts of the subject. One such concept is the economics system.

The economics system is one of the major concepts that involves the study of the regulation for monetary flows. 

Now the question arises, what is an economics system?

 
An economics system is the ideology of the behavior of goods and services in the market all over the world. It refers to the system in which it studies the process of ownership and direction of the money flow.  
 
There are various types of market economics system:

  • Market Economy
  • Planned Economy
  • Mixed Economy

1.Market Economy

As the name suggests market economy refers to the part of the system that is related to the monetary activities regarding the market.

It is all about the demand and supply of the goods and services, that keeps the observation about the high and low prices in the market.

 
2.Planned Economy

Planned economy refers to the economy in which decisions are made regarding the allocation and  planning of the surplus and shortage of goods and services. Here the government has a control on decisions regarding the production, distribution, and prices of the goods and services. If the economy is not planned then there are various adverse consequences. If it’s unplanned, then there would not be many fruitful decisions related to production and prices. There will be a shortage or surplus of the products which would affect the demand and supply in the market. 

3.Mixed Economy  

The mixed economy refers to the economy in which both planned and market economy works are involved. It is the economy, which is the mix of both private and public ownership. It has the ownership of the services related to government and the private sector, such as the health-care industry, management of public lands etc.  

To Sum Up

The economics system is the part of the economics in which decisions related to the money flow are made. It has the role of the government as well as private sector. It includes the study of information regarding the goods and services and their supply and demand in the market.


Summary:

Economics has a wide scope in studying practical application of the circulation of inflow and outflow of money. The economics system is a sub-domain of the subject which talks about all decisions regarding investing the funds in the market, production and pricing. This also affects the shortage and surplus of products in the market.

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Casey Floyd

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Casey Floyd
Joined: December 13th, 2017
Articles Posted: 11

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