Author: Blessing Peter Titus

Socialism refers to an economic system where the means of production are controlled by a central body such as the

When considering mixed economy advantages, they comprise a combination of the advantages that are attributed to both capitalist and socialist

All economies in existence have both disadvantages and advantages. In this article, the mixed economy disadvantages shall be our focus

In this article, we are going to compare and contrast capitalism vs liberalism by examining the similarities and differences that

One of the key features of socialism is the collective ownership of the factors of production such as land, labor,

How the various actors in an economy relate to each other is often determined by the type of market economy

Public good examples will generally vary from one society to the next based on the government’s spending, the social efforts

What is a liberal market economy? Markets exist in all economies, they are a necessary part of society as they

As it is with other types of markets and all fields of human endeavor, the free market economy presents both

A coordinated market economy is one of the varieties of capitalism identified by Peter A. Hall and David Soskice with

Free market vs regulated market are markets that could exist within a society. No society can exist without having a

No matter the type of economic system practiced in a society, it will bring about some advantages and disadvantages to

The factories in the industrial revolution changed how and in what quantity goods were produced. They propelled the large-scale production

What caused the industrial revolution? Several factors culminated at the beginning of the industrial revolution. The industrial revolution was a

Nepotism vs Cronyism are terms used to denote favoritism to members of one’s family or friends. As humans, favoritism has