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 The economic system is a set of economic and legal relations that govern, manage and regulate the life of a society economically at a specific time, as this system affects the nature of the interrelationships between people and various resources, chiefly natural resources, and the economic systems have been subject to study, development, and has It has become one of the most important areas that specialists search for, due to its bifurcated links to many fields and other sectors, and its direct contact with people's public and private lives. Economic systems of all kinds and characteristics aim to meet the different individual needs, by investing the available resources, to In addition to solving the problems related to the scarcity of resources and the diversity of humanitarian needs, hence many economic systems have emerged, which we highlight in the following.


The most important economic systems:

Capitalist system:

 The capitalist system mainly aims to achieve the greatest possible profit; It is characterized by its foundation on the principle of individual ownership of the means of production, and its direct dependence on supply and demand, and the capitalist system is also famous for the principle of competition to the extent that it sometimes evolves into a monopoly, as for the state that adopts the capitalist system, it has the advantage of having very simple and limited interventions; Where its functions are limited to general tasks only; Provides security and protection, and others; This is because the capitalist countries adopt the principle of economic freedom and expand on it.



Socialist system:

Unlike the capitalist system, the socialist system is considered more conservative on many economic issues. Ownership of the means of production in socialist systems is collective ownership, and the state has a greater role in the various productive processes. Hence, it can be said that the socialist system is a centralized system by nature.


Mixed order:

Where it can be said that the mixed system is a combination of the two previous systems; In this type of system, the private and public sectors exist side by side with each other in the economic activity of a society, and the state also plays an important and significant role in it. It monitors private sector activity in addition to providing protection to the consumer and preventing the spread of monopolies practiced by some productive parties, in addition to that, the state in this system cares about the interests of citizens, especially those at risk of unemployment, and the dangerous negative effects that may result from it that may destroy society.

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