economic system of bangladesh

Economic System of

Bangladesh

Introduction• An economic system is a system of

production, resource allocation, exchange, and distribution of goods and services in a society or a given geographic area. • As such, an economic system is a type of

social system. The mode of production is a related concept

What Is Economic System• Economics is the social science that analyzes

the production, distribution and consumption of goods & services. • It’s a mechanism which deals with the

production, distribution and consumption of goods and services in a particular society.

Types of Economic SystemThere are four major types of economic system exists mainly in this world. i.e • Capitalist Economic System - All the economic sector owned by

individuals is a capitalist country. • Socialist Economic System - Country having all the economic sectors

controlled by the Govt• Islamic Economic System - Where Islamic laws & institution prevails • Mixed Economic System - Co-existence of both public sector and

private sector.

Economic System of Bangladesh

• In Bangladesh, public & private based economy is existing together. • As Bangladesh public & private sector in the lead of

it’s economy, it’s a country with Mixed Economic System. • As Bangladesh public & private sector in the lead of

it’s economy, it’s a country with Mixed Economic System.

For Example• According to “Wikipedia”, (2016), Among 47 Bank’s

on Bangladesh• 8 are state owned• 31 are Private• 8 are Islamic Based

Central Bank of Bangladesh, Named ‘Bangladesh Bank’ rules over all the banks of Bangladesh. Here we get the theme of Mixed Economy system in Bnagladesh.

Development Through Mixed Economic System

ConclusionAs a developing country, obtaining 43rd position in world economy. After late 1975, it developed private sectors to develop its economy and became a country with Mixed economic system which boosted our economic state a lot. Finally, it can be said that, Mixed economic system is the best economy system of Bangladesh but it would be more better if it became Islamic Economic System