Kogaion

The way scarce resources get distributed within an economy determines the type of economic system. There are four different types of economies and each one has it's own strengths and weaknesses.

1. Traditional Economic System
The traditional economic system is the most traditional and ancient types of economies in the world. The portions of the world that still function under a traditional economic system tend to be rural, second- or third-world, and closely tied to the land, usually through farming. In general, in this type of economic system, a surplus would be rare. Each member of a traditional economy has a more specific and pronounced role, and these societies tend to be very close-knit and socially satisfied. However, they do lack access to technology and advanced medicine.

2. Command Economic System
In a command economic system, a large part of the economic system is controlled by a centralized power, where most decisions are made by the central government. Since the government is such a central feature of the economy, it is often involved in everything from planning to redistributing resources. A command economy is capable of creating a healthy supply of its resources, and it rewards its people with affordable prices. This capability also means that the government usually owns all the critical industries like utilities, aviation, and railroad.

3. Market Economic System
In a free market economy, firms and households act in self-interest to determine how resources get allocated, what goods get produced and who buys the goods. This is opposite to how a command economy works, where the central government gets to keep the profits. In this type of economy, there is a separation of the government and the market. This separation prevents the government from becoming too powerful and keeps their interests aligned with that of the markets.

4. Mixed Economic System
A mixed economy is a combination of different types of economic systems. This economic system is a cross between a market economy and command economy. In the most common types of mixed economies, the market is more or less free of government ownership except for a few key areas like transportation or sensitive industries like defense and railroad. However, the government is also usually involved in the regulation of private businesses. The idea behind a mixed economy is to use the best of both worlds – incorporate policies that are socialist and capitalist.

Greetings from The Planet X.

It’s time for the latest Versus Series poll!

Last week we saw Luke Skywalker vanquish Neo in decisive fashion.

This week we have two near omnipotent masters with

Yoda battling Magneto!

Will the Force be enough to defeat this metallic mutation?

That’s up for you to decide!

So hit the hyperspace drive and stop by The Planet X for this week’s Killer Poll !

Hello comrades!

Happy Easter!

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Public Announcement:

--- The Federal Republic of Svetslava has joined the Free Trade Space Agreement (FTSA).

The official Regional currency (0.1-1 koson), has been employed in active circulation.

Customs vignette, import/export: off. ---

Interstate Dialogue Office

Dear friends, please participate in our latest poll!!!

Mabuhay! To our embassy partner, ally for peace and sustainable development, we would like to request your support for our Delegate and President, Ariusgrad, as it has recently received a commendation proposal no less from our World Assembly Secretary General.

As the longstanding delegate of a large, founderless region for more than eight years and counting, this nation has demonstrated utmost dedication and unparalleled service for its constituents in the Philippines. In its dream for a shared world, it has kept the region open to all aspiring members despite the increasing demands of ascending in the international stage. Never has it been under an Ariusgrad administration that the region locked itself from invasion, facing the powerful forces head on with incredible skill in consensus building and maintaining alliances. As an integral member of the URA, the region under its exemplary leadership has since been key to many initiatives.

In a day or so, the landmark proposal will be taken up in the Security Council. Every manifestation of support will be most beneficial, for this is not only a recognition for a largely unknown region such as the Philippines, but also an interesting development, a great message, for all regions which may not have marquee reputation relative to the world, but which credentials are nonetheless noteworthy.

Please see the proposal content here: page=UN_view_proposal/id=joan_darc_1604956368

Maraming salamat sa inyong pagtabang!