The Economic Systems

  • 1.What are characteristics, strengths and weaknesses of capitalist economies? Socialist economies? Mixed economies? Explain how economic conditions contribute to class stratification.
  • 2.What are the differences between the power elite model and the pluralist models? What does research suggest about these models? Provide a possible strategies to reduce power inequalities on a national or global scale.
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Economics refers to the social science that deals with the production, distribution and the utilization of goods as well as the services (Zhang, Kevin, and Yunyu, 2017). The system through which the products are produced…
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