Assignment #1- ECON 01- PRINCIPLES OF ECONOMICS with TAXATION

BS Math 2- 4 groups
BS Math 3- 4 groups

Required:
1. Work/Do research work on the following types of Economic Systems
Group1 – Market System/Market-oriented Economic System
Group 2- Command or Planned Economic System
Group 3 – Mixed Economic System
Group 4 - Traditional/Feudal Economic System
2. In all types of economic systems, the following are your guide:
1. Characteristics in terms of
a. Ownership of capital or productive assets (who owns/control/manage
productive assets/capital
b. What is the extent of government presence or government
intervention/regulation in the economy?
2. Cite examples of countries who exemplify the type of economic system
a. Western Countries
b. Asian Countries
c. African Countries
3. Benefits/advantages of the economic system
4. Dangers/disadvantages of the economic system
3. What is the best economic system, justify your answers? (Note*- in 50 words, essay form)

Prepared by:

Ma’am Vayols (just call me Ma’am Vayols please)