Describe the Three Main Types of Economic Systems

question 43

Essay

Describe the three main types of economic systems.

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Definitions:

Human Capital

The grouped skillset, awareness, or subtle properties of individuals that can be utilized to create financial benefits for the individuals, the organizations they work for, or their local communities.

Discriminated

Treated unfairly or prejudicially against an individual or group based on characteristics such as race, age, sex, or religion.

Performance Reviews

Formal assessments where an employee's job performance is evaluated, typically by their manager, against agreed standards.

Productivity

The measure of output per unit of input, reflecting the efficiency of production.