What I feel is the most important thing in Economics

There are a lot of things I have learned this year in Economics. And everything I learned was very important in my mind. But if I had to choose one thing to be the most important it would have to be economic systems. With Economic systems there is democratic socialism, authoritarian, capitalism, pure market and or command, and traditional.

Democratic Socialism: is a description employed by numerous socialist movements and organizations, to emphasise the democratic character of their political theory.

 Authoritarian: the enforcement of strict authority at the expense of personal freedom to do anything you want.

Capitalism: is that the financial system that's supported the personal possession of some type of capital.


Pure market/command: An economy in which production, investment, prices, and incomes are determined centrally by a government.

Traditional: an underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in economic growth.

I feel economic systems are so important because it is our whole trade. It's the only reason we have our everyday items. Without an economic system Walmart and other big stores wouldn't exist.

Our economic system is world wide because of trade, etc;