Advantages (Pros / Positives / Benefits) and Disadvantages (Cons / Negatives / Drawbacks) of Socialism

Advantages (Pros / Benefits) and Disadvantages (Cons / Drawbacks) of Capitalism

Mercantilism is an economic form that regulates international trade to increase exports to surpass imports.

Democracy is known as “rules imposed by the people”, which emphasizes the power of the common public to exert political control with functions of the elected government.

Liberalism is a philosophy that protects and enriches the rights of the common public.

Communism emphasizes that all wealth and assets are owned by the common public, rather than by individuals.

Socialism is an economic system wherein the resource ownership is with the common public, rather than the private.

Capitalism is when the economic system is dominated by free markets, private businesses, and private individuals’ asset ownership.

Advantages and Disadvantages of the Biweekly Payroll.

Controllable cost is an expense that the company executives/management can influence up to some extent based on the decisions made.