Question

What are the three major types of economic systems? What are the effects of economic systems on how organizations are structured in societies?

can you please put the answer in your own words please and end please make sure I can read it I have bad eyes

Answer 1

There are three types of economic system Market ......

An economy is a system whereby goods are produced and exchanged. Without a viable economy, a state will collapse. There are three main types of economies:

(1)free market,

(2)command

(3)Mixed

Free-Market Economies, which are essentially capitalist economies, businesses and individuals have the freedom to pursue their own economic interests, buying and selling goods on a competitive market, which naturally determines a fair price for goods and services.

Command Economies

A Command Economy is also known as a Centrally Planned Economy because the central, or national, government plans the economy. Generally, communist states have command economies, although China has been moving recently toward a capitalist economy. In a communist society, the central government controls the entire economy, allocating resources and dictating prices for goods and services. Some noncommunist authoritarian states also have command economies. In times of war, most states—even democratic, free-market states—take an active role in economic planning but not necessarily to the extent of communist states.

Mixed Economies

A Mixed Economy combines elements of free-market and command economies. Even among free-market states, the government usually takes some action to direct the economy. These moves are made for a variety of reasons; for example, some are designed to protect certain industries or help consumers. In economic language, this means that most states have mixed economies.

There effects of the economic system on organisation is that the market takes place according to its rule and the organisation sets ups a plan in society .That how they make their good will....