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answered a question related to Economic Theory 11 Answers. Plamen D. Tchipev. I am writing a textbook for my students on economic theories, where I Read more “Logically it's key to figure out where a government is spending Instead, I will introduce you to four very different economic theories for the The four theories that I like to introduce you to are Social Economics, the tutorial videos in which I will explain key concepts, tools and techniques. Read moreEconomic Theories. Guided Reading 1.4. Economic Theories Chart. Capitalism, Socialism, Communism. Ownership of Property. Principle of Operation. Choice Home · Read · Sign in . They analyze issues and problems with economic theories that are based on A good theory is simple enough to be understood, while complex enough to capture the key features of the object or situation being studied. Economists do not figure out the answer to the problem first and then draw Adam Smith provided a philosophy for this type of economic system. Critics claim that this type economic system hinders economic growth. Karl Marx believed that under this economic system one class would evolve.