Explain how economic systems attempt to allocate and make effective use of scarce resources effectively

    Assessment Format: Write a 1000 words essay including each topic. The essay should
    comply with the minimum word count of 1000 with +/- 10% margin.
    You may use tables and diagrams to support your report to illustrate
    the text. In addition you may include an appendix to support your
    essay. Word count excludes the index, headings, information contained
    in tables, references and bibliography.

    Essay
    Explain how economic systems attempt to allocate and make effective use of scarce
    resources effectively (LO 2.1)
    In your essay, compare & Contrast,
     Command Economy
     Free enterprise Economy
     Mixed Economy
     Transitional economies
     Public and private sector initiatives
     Private finance initiatives

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