1. Economic Environment

2. Economic Factors Growth strategy Economic Systems Economic Planning Industry Agriculture Infrastructure Shumeet Grewal

3. Economic Factors Financial and fiscal policies Removal of regional Imbalances Price and distribution Controls Economic reforms Human resources Per Capita and National Income Shumeet Grewal

4. Types of Economies Command /Socialist Economies Market /Capitalist Economy Mixed Economy Shumeet Grewal

5. Command /Socialist Economies The government or other central authority makes decisions and determines how resources will be used There is little individual freedom There is no competition Businesses are not run to create a profit The government dictates the job in which you work The government sets the prices of goods and services Examples of command economies: Cuba, North Korea and the People’s Republic of China Shumeet Grewal

6. Market /Capitalist Economy Resources are owned and controlled by individuals Economic decisions are made by individuals competing to earn profits Individual freedom is considered very important Economic decisions are made by the basic principles of supply and demand There is competition among businesses Examples- USA, Korea, China etc Shumeet Grewal

7. Mixed Economy Government and individuals share the decision making process Government guides and regulates production of goods and services offered Individuals and Govt. own means of production Protection to consumers and workers from unfair policies Example – India. Shumeet Grewal