The economic system is composed of people, institutions and their relationships. It adresses the problems of economics like the allocation and scarcity of the resources.
The division of economic systems
There are several basic questions that must be answered in order to resolve the problems of economics satisfactorily. For example, the scarcity problem requires answers: what to produce, how to produce it, and who should get what is produced. An economic system is thus a way of answering these basic questions. Different economic systems answer them differently.
Please note that there is often a strong correlation between certain ideologies, political systems and certain economic systems (for example, consider the meanings of the term "communism"). Many economic system overlap each other in various areas (for example, the term "mixed economy" can be argued to include elements from various systems). There are also various mutually exclusive hierarchical categorizations.
The four most basic and general economic systems are:
The economicsystem is by the interdependence of the social subsystems, which affect each other mutually, particularly with the political system verwoben.
Economicsystem is after the system theory an analytic generic term for all those elements, processes and structures, which can be defined by the common sense of the need satisfaction in view of limited goods as part of the societysystem of other subsystems such as politics and culture.
Finally thirdly the economic order developing from cooperating the elements and participants is a component of the economicsystem; it is based on the institutional rules (economicsystem, economic constitution).
Economicsystem of the Czech Republic - Czech republic
In the years right after the revolution, the Czech economicsystem had to absorb all changes that had occurred on world markets; the changes were often very dramatic.
Within the restitution system, businesses and land were returned to their previous owners; during the coupon privatization, a large majority of state companies were privatized.
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