Geo economic and economic systems Flashcards
1
Q
Geo economic regions def
A
Countries that have power because of the economy
EU, China, USA, India
2
Q
Economic systems
A
- The communist system
- The capitalist system
- Keynesian system
- Neoliberal system
3
Q
Communist system
A
North Korea
Gobern controls the economy
4
Q
Capitalist system
A
The states
The market the main source, inspired by Adam Smith and David Ricardo
5
Q
Law of supply and demand def
A
If it is a lot of supply but a low demand, the price goes down. If it few supply bit a lot of demand the price goes up
6
Q
Keynesian system
A
Spain
Mix between capitalist and communist
State intervenes in economy with legislation
7
Q
Neoliberal system
A
Argentina
Non intervention of the state
