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25 October, 01:54

An economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom.

economic system

free enterprise

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Answers (1)
  1. 25 October, 01:58
    0
    the answer is: Economic system

    In this system, the government tend to utilize its military authority to force the people to conform to its regulation regarding the type of goods should be produce, the price, the salary given to the employees, etc.

    One advantage of this system is it reduce the 'inequality' and economic conflict that occurs between the people.

    The disadvantage is that this system take away most of the power and freedom of the people to fully pursue their own interest.
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