Scarcity is the fundamental challenge that all individuals and nations must confront. Everyone faces some limitations, so we all have to make choices where we limit or allow ourselves to something.
Economists generally recognize four types of economic systems traditional, traditional, command, market and mixed.
A traditional economic system is shaped by tradition. The work that people do, the goods and services they provide, how they exchange resources… all tend to follow a pattern. The traditional system is bad at addressing scarcity because scarcity is formed off of new requirements people have through the ages and a traditional system would not evolve just as our requirements would.
In a planned economy, the government controls the economy. The state decides how to use and distribute resources. The government regulates prices and wages; it may even determine what sorts of work individuals do.
Socialism is a prime example of a planned economy. Socialism does not work because it is not consistent with the fundamental principles of human behavior. The failure of socialism in countries around the world can be traced to one critical defect: it is a system that ignores incentives.
Market economies allow all economic decisions to be made by individuals. The unrestrained interactions between individuals and companies in the marketplace determine what happens to all the good and resources.Individuals choose how to invest their personal resources and individuals decide what to consume. Within a pure market economy, the government is entirely absent from economic affairs.
A mixed economic system combines elements of the market and command economy. Many economic decisions are made in the market by individuals. But the government also plays a role in the allocation and distribution of resources.
If scarcity is looked at on a macro level, the best economic system is mixed because it allows the government to also plays a role in the allocation and distribution of resources, while the individuals still stay happy because they have some control. The only problem is the eternal question of what the right mix between the public and private sectors of the economy should be.
There is no point to look at it on a micro level because almost no country is small enough to be considered on that level.
Answer:
A flood of cheap British manufactured imports that sold cheaper than comparable American-made goods made the post-war economic slump worse. Finally, the high level of debt taken on by the states to fund the war effort added to the economic crisis by helping to fuel rapid inflation.
Explanation:
web-
From these options, the four cities established by the Phoenicians are:
Byblos, the capital city of this civilization from 1200 until 1000 BC
Tiro, the capital city of them from 1000 until 333 BC
Sindon which was one of the hometowns of them together with Tiro
Cartago, its most important foundation
1 – <span>Jesus Christ is the Only Way to Eternal Salvation With God the Father
</span>
2- <span>We Are Saved by Grace Through Faith – Not by Works
</span>
3 –Jesus Christ is the Son of God 4- <span>The Incarnation of Jesus Christ
</span>
5 – <span>The Bodily Resurrection of Jesus Christ From the Grave
</span>
6 –The Ascension of Jesus Christ 7 –<span>The Doctrine of the Trinity
</span>
8 – <span>The Holy Bible is the Inspired and Infallible Word of God
</span>
9 – <span>We Are Baptized With the Holy Spirit at the Moment of Salvation
</span>
10 – Regeneration by the Holy Spirit 11 – <span>The Doctrine of Hell
</span>
12 – <span>The 2nd Coming of Jesus Christ Back to our Earth</span>
