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Following is the overview of the various advantages of money; 1. Removal of Barter System Difficulties: Introduction of money has helped in overcoming the difficulties of barter system such as the need for double coincidence of wants, lack of common measure of value, lack of divisibility, the problems of transportation and storage of wealth.
Capitalism is a free enterprise economy in which competition and private ownership of property generally prevail and economic decisions are privately made. This enables them to decide what they should produce and in what quantities and to make the best use of the available productive resources.
Socialism, as an alternative to capitalism, is an economic system which is controlled and regulated by the government so as to ensure welfare and equality of opportunity to the people. Advantages of money in socialist economy are: It provides an essential link between physical and financial planning; the financial plan provides necessary monetary resources to fulfill the physical targets.
Importance in a Mixed and Developing Economy: Mixed economy is a golden mean between capitalism and socialism. It integrates good features of both the economic systems.
Private and public sectors coexist in such an economy. In a mixed economy of a developing nation, money plays an active and dynamic role to achieve the objective of planned economic development.Nov 22, · In this essay, both the advantages and disadvantages of taking public transport will be described.
Public transport has many advantages for the . Disadvantages of Public Transportation Essay. Public Transportation Free public transportation would be a useless drain on the American economy. Firstly, a system of transportation with no regulated price would lack stability.
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Public transportation provides many mobility, safety, and economic benefits to people and businesses. Beyond those key benefits, it also offers significant environmental advantages that contribute to a better quality of life.
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