Question

Give an examples for Countries of National Differences for the following:

1- Political Systems (a) Collectivism vs. individualism (b) Democratic vs. totalitarian

2- Economic (a) Market Economy (b) Command Economy (c)Mixed Economy

3- Legal Systems

Answer 1

For political differences individualism vs collectivism we can furnish the examples of Russia and India sequentially. In Russia the political system is individualism from the era of lenin. On the contrary, India is the largest democracy of the world and hence the federal system is collectivism.

In the second example we can say US is a totalitarian economic which only partially applies democracy or democracy at a totalitarian perspective.

2) here we can furnish the examples of Us, Russia and India respectively. US is a market economy since it's inception as supply and demand illustrates the ultimate consumption. However in India prior to 1991 it was a command economy like Russia but in 1991 India experienced a fundamental departure from the earlier regime to the new panacea of market economy.

3) Apart from very few countries , most other countries have a legal system which is enacted by their law and orders and their own constitution.

Hence overall we can say that all the topics are interrelated and political economy can't be separated out from economics.