Economic system The system of free economy (Laissez Faire) or capitalism (Capitalism) • The economic system, socialism (Socialism) • Mixed economic system (The mixed economy) The system of free economy (Laissez Faire) or capitalism (Capitalism) • Start by economists to more classic Economic foundation, who is Adam Smith published The Wealth of Nations title in the year 1776. • Describe the TA of the economy that consumers want to buy goods in.The manufacturer wants to sell expensive items. Will cause "an invisible hand" (invisible hand) namely "market forces" (market mechanism) that will make the most effective resource allocation, without the intervention of the "visible hand" (hand visible) is the Government.
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