Economic system refers to:

Collectivism emphasize

Individualism emphasize

Example of country (s) that practice collectivism:

Example of country (s) that practice individualism:

A person has serious stomach problem. He is searching for a doctor. He will consult an expert doctor and will get treated by him.

This is a situation of

The most important aim in a person’s life is to work for the prosperity and happiness of the family.

This is a situation of

A village has been badly flooded. Government has sent relief to the village. The villagers will share the relief according to their needs.

This is a situation of

______________ government is exercised either directly or through elected representatives.

______________ government exercises absolute control over all spheres of human life and prohibits opposing political parties.

These are the example of totalitarianism leaders

_______________ is where political power is monopolized by a party, group, or individual that governs according to religious principles.

_______________ is where political power represents the interests of a particular tribe monopolizes power.

Government plans the goods and services that a country produces, the quantity that is produced, and the prices as which they are sold.

This refers to

Production is determined by the interaction of supply and demand.

This refers to

Certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.

This refers to