Economic system is one of
the most important aspects in every country, without economic system it would
be a struggle for certain country to develop. Economic system which government
distributes sources and trade goods and services, which consist of 5 factors of
production; labor, capital, entrepreneurs, physical resources and
information resources. Economic
system is divided into 3 categories, which are; mixed economy, planned economy,
and free market economy. People tends to argue about which economy system are
the best, although every nation has its own system, but there are different
point of view which conclude that either one of them are the best. This report
will discuss about the differences between 3 economic systems and find out
which economic system are the best.