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O‘zbеkiston rеspublikasi oliy ta’lim, fan va innovatsiyalar vazirligiBog'liq mustaqil ta\'limTask 2. Reading
Economic systems
Entrepreneurship is provided by individuals who are willing to take the risk
of starting and managing businesses. The wants people have for goods and services
are unlimited. However, each country has a limited amount of resources from
which to provide goods and services. Suppose you live in a country in which
everyone does what his or her mother or father does. If your father is a farmer, you
become a farmer. If your mother weaves baskets, you weave baskets. An economic
system in which people do things the way they have always done them is called a
traditional system. The same tools and methods used by parents and grandparents
are used by people today. Most traditional economic systems have found it hard to
grow. They fall behind other countries. They use their resources as they always
have because they value their traditional ways of living. New methods and
products are not accepted, so the system does not grow.
Sometimes the government of a country — and the government alone —
gives the answers to what kind of economic system the country will have. The
government owns the resources and employs the workers. It decides what workers
will do, what goods and services they will produce, how much will be produced,
and what income they will receive. This type of economic system is called a
command system.
In a command system, the government decides what will be produced. In a
command economy, a central planning committee sets the goals. The committee
may also decide who will use the goods and services. In many command
economies, consumer goods and services rank low on the priority list.
A market system is an economic system in which the interaction between
buyers and sellers determines what is bought and sold. In a market system the
questions are answered through the market, which is made up of all individuals'
buying and selling decisions put together. The market is not a place; it is a concept.
In a market system, the consumer is all-important. Every time a consumer
buys a product, he or she is telling the market to supply more of that product.
Interaction of consumers and producers is what makes a market system work.
However, everyone has certain needs such as food, clothing, and shelter that
must be satisfied. The economic system that does the best job of satisfying those
needs obviously is the most successful. No economic system is perfect… Most
economic systems in the world today are mixed systems. Mixed systems combine
some parts of other systems. They may be a mixture of traditional, command, and
market economic systems.
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