Type of economic system used countries over the world differ from country to country. On the basis of recent trend, it can be found that most of the countries over the world are more reliant on markets type of economic system.
Various type of economic system over the world are as follows:
Market Economy:
The Market Economy system is being accepted by most of the countries over the world following the success of western countries such as USA, Canada and Others. In a market economy system both buyers and sellers play a significant role and prices are determined through demand and supply interaction.
Political Economy:
In a world environment where acceptance of neo-liberalism is rising very fast, the relevance of political economy is well meant for bringing world powers together. Find detailed on global political economy dealing with global trade, finance, and other monetary and fiscal policies.
Global Economy:
The Global Economy has made a significant shift in its agriculture related economic activities to services related activities. It has also experienced a faster rate of growth in its Gross Domestic Product. Find detailed on the trend of global economy, global exports, global economic indicators and globalization economy.
Mixed Economy