Malaysia practices a mixed economic system. Explain the characteristics of this economic system from your own...
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Malaysia practices a mixed economic system. Explain the characteristics of this economic system from your own observations of the economic activity in Malaysia Malaysia practiced mixture between Capitalist and Socialist Economy System Characteristics : ● ● ● (5 marks) Resources are owned by both the government and the private sectors Government will provide public goods and merit goods which private sectors are unwilling to produce. Individuals and firms are free to own wealth and need to pay tax to the government. Individuals and firms can make economic decisions. Malaysia practices a mixed economic system. Explain the characteristics of this economic system from your own observations of the economic activity in Malaysia Malaysia practiced mixture between Capitalist and Socialist Economy System Characteristics : ● ● ● (5 marks) Resources are owned by both the government and the private sectors Government will provide public goods and merit goods which private sectors are unwilling to produce. Individuals and firms are free to own wealth and need to pay tax to the government. Individuals and firms can make economic decisions.
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In Malaysia there are both public and private sectors that own and control resources The government ... View the full answer
Related Book For
Foundations in Microbiology
ISBN: 978-0073375298
8th edition
Authors: Kathleen Park Talaro, Barry Chess
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