Question

Sociologists have outlined three types of economic systems. Name each one and give a brief description of it.

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Answer 1

The first type of economic system is preindustrial. Its societies generally have an agriculturally based economy, and there is very little technology to provide for the needs of its members. All economic activity is carried out using human labor and animal power. Next there is industrial. This society is characterized by an emphasis on the use of machinery to produce goods. Machines and new sources of energy make the shift from a primary sector to a secondary sector possible. Industrial societies can support lager populations. Last is postindustrial. In this society the tertiary sector becomes the most important area of the economy. Greater emphasis is placed on the collection and distribution of information, which creates a demand for administrative, managerial, professional, technical, and service personnel.

Step-by-step explanation:

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Answer 2

Pre-industrial, industrial, and post-industrial are three types of economic systems outlined by sociologists.

Descriptions -

Pre-industrial: In this economic system, the dependence of the population is largely on agriculture and allied occupations. The penetration of technology in this system is negligible. Most activities are carried out manually and thus, the productivity is way too less. This system is characterized by little to no economic prosperity and a prolonged lack of sound financial sources.

Industrial: Major dependence on machines and advanced technology for mass production of goods is the main characteristic of this system. This system also helps in reducing disguised employment and increasing real employment. A faster flow of output against the input is the primary reason behind the growth evident in this system.

Post-industrial: This economic system is characterized by the exchange of services more than tangible commodities. This system is comparatively the fastest as far as growth is concerned. Only because there are no physical goods involved, this system functions the fastest. Services like management, consultancies, administration, etc, are parts of this system.