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presentation

PRESENTATION ON

THOUGHTS ON ECONOMICS

PREPARED BY: GROUP- “B”PREPARED BY: GROUP- “B” Name of Group Members Name of Group Members ID ID No.No.UTPOL KUMAR 1406004

MD. SAJEDUL ISLAM 1406011

MD. ISMAIL HOSSAIN 1406019

KHOKON CHANDRO BARMON 1406026

MD. SAIFUL ISLAM 1406034

MASUDUR RAHMAN 1406046

MD. REPON MIA 1406054

MD. KAJOL HOSSEN 1406061

NAIMA FERDOUSE 1306039

MD. ZILLUR RAHMAN 1205034

Concept of Economic systemsAn economic system is a system of production, resource allocation & distribution of goods & services in a society or a given geographic area. It includes the combination of various institutions, agencies, entities, decision making process & patterns of consumption that comprise the economic structure in a given community.

The study of economic systems includes how these various agency and institutions are linked to one another, how information flows between them, and the social relations within the systems (including property rights and the structure of management).

Concept of Economic systems

Economic systemsThere are three economic systems. They are-

1.Capitalist Economy2.Socialist Economy3.Mixed Economy

Capitalist EconomyA Capitalist economy is an economic system in which the production and distribution commodities take place through the mechanism of free markets. Hence it is also called as market economy or free trade economy.

The salient features of Capitalism1.Private property2.Freedom of enterprise3.Profit motives 4.Sovereignty of that consumer5.Minimal government intervention6.Willingness to change

Advantages of Capitalism1. Increase in productivity 2. Maximizes the welfare3. Flexible system4. Non-interference of the state5. Low cost and qualitative products6. Technological improvement

Disadvantages of Capitalism

1. Inequalities 2. Leads to monopoly3. Depression4. Mechanization & automation 5. Welfare ignored 6. Exploitation of labor7. Basic social needs are ignored

Socialism Economy A political and economic theory of social organization which advocates that the means of production, distribution & exchange should de owned or regulated by the community as a whole is called socialism.

Features of Socialism Public ownershipCentral planning Definite objectives Freedom of consumption Equality of income distribution Planning and the pricing process

Advantages of Socialism

Greater economic efficiency Greater welfare due to less inequality of incomeAbsence of monopolistic practices Absences of business fluctuations

Disadvantages of socialism

1. Loss of consumers sovereignty 2. No freedom of occupation3. Malallocation of resources 4. Bureaucratic

Mixed EconomyA mixed economy is an economic system that

incorporates aspects of more than one economic system. This usually means an economy that contains both privately owned and state owned enterprises or that combines elements of capitalism and socialism, or a mix of market economy and planned economy characteristics. This system overcomes the disadvantages of both the market and planned economic systems.

Features of mixed economy

1. Public sector 2. Private sector 3. Joined sector 4. Cooperative sector 5. Freedom and control6. Economic planning 7. Social welfare

Advantages of mixed economy

Best allocation of resources General balanceWelfare state

Disadvantages of Mixed Economy

Non-corporation between the two sectors

Insufficient public sector Economic fluctuations

Demographic characteristics of Bangladesh

• Size of population • Density of population • Population by age • Male and female ratio • Average life expectancy• Birth and death rate• Urban and rural population • Distribution of population by religion • Literacy rate

Reasons for increasing population a)a) GeographicalGeographical locationlocationb)b) Food habit Food habit c)c) Poverty Poverty d)d) Lack of women education Lack of women education e)e) Polygamy Polygamy f)f) Religion and social attitude Religion and social attitude g)g) Life style Life style h)h) Superstition Superstition i)i) Social structure Social structure

Determinants of population growth

I. Population growth rate II. Calculating resent growth rate III.Calculation of crude birth rates IV. Infant mortality rate

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