The economic systems and their characteristics are:
Capitalism:
- emphasizes competition
- rewards personal initiative
- pursuit of profit
- advocated by Adam Smith, the “father of modern economics” and author of The Wealth of Nations; doctrine of economic opportunity with little to no government intervention
- doctrine that people can be more prosperous without government intervention
Mercantilism:
- private ownership
- governments sought to gain power by accumulating more wealth than other nations
Communism:
- grew out of socialism
- was a reaction to capitalism
- controls not only all factors of production, but all areas within society
- classless society
- system most associated with Karl Marx, co-author of The Communist Manifesto with Friedrich Engels
- North Korea
Socialism:
- seeks an economy under the collective social control of the working class
- Sweden
<h3>What are types of economic systems?</h3>
Capitalism or Free enterprise is a system that encourages people to get into business for the purpose of making profit. It also allows for private ownership of assets.
Communism does not allow for private ownership and does not believe in a society that has classes. North Korea is an example even though it has classes.
Socialism is a system that calls for the economy to be run by the working class while mercantilism calls for governments to accumulate wealth.
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One of the most important figures in the American Civil Rights Movement is none other than social activist and humanitarian, Martin Luther King Jr. A Baptist minister inspired by other advocates of nonviolence, King encouraged oppressed and socially disadvantaged African-Americans to fight for equality through peaceful protest. Although he was assassinated in April 1968, King helped to end legal segregation, a key driving force behind the Civil Rights Act of 1964 and the Voting Rights Act of 1965. In remembrance of King himself, here are 10 facts you should know.
A is the asnwer because say it brought new elected officials
Yes it did...............
