Lecture 26-7 - 10.29.2008

Lecture 26-7 - 10.29.2008 - AEM1200, Introduction to...

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AEM1200, Introduction to Business Management Wednesday 10/29        Economics Markets and capitalism Supply, demand and competition The government and economics The government and economics The banking system Economics: The close supervision and management necessary to ensure adequate provisions to a  community. Types of Economies Capitalism An economic system in which all or most of the factors of production and  distribution are privately owned and operated for profit; Socialism A global system of social organization based on common ownership, democratic  control, production for use and free access; Communism An economic and political system in which the state makes all economic  decisions and owns all the major forms of production; Mixed economies Economic systems in which some allocation of resources is made by the market 
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This note was uploaded on 08/28/2009 for the course AEM 1200 taught by Professor Perez,p.d. during the Fall '06 term at Cornell.

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Lecture 26-7 - 10.29.2008 - AEM1200, Introduction to...

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