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,
ï‚· Command Economy
ï‚· Free enterprise Economy
ï‚· Mixed Economy
ï‚· Transitional economies
ï‚· Public and private sector initiatives
ï‚· Private finance initiatives