#unit3
Not all economic systems are the same.The ec.system of the US is very different from the ec.system of the USSR.The American system is based on private enterprise.The Russian system is based on the principles of Karl Marx.KM was a political economist who lived in the19th century.The Amer system is capitalistic,while the Rus system is communistic.Th economic ideologies of these two nations differ very much from each other.The ec.sys.of Brinain is similar to the American system.Britain has an economic systembased on private enterprise and private supples of capital.Property in Britain and US can be owned by individual citizens of Britain and America is not complete freedom.Citizens must obey the law,but otherwise they can use their time,money and effort as they wish.