In the early 2000s, we experienced a depression of sorts with the loss of major companies such as Chrysler and General Motors. With the fall, we saw the housing market skyrocket for a short period of time due to subprime mortgages, where it was easy for people with little or no credit or documentation to get a mortgage. Prices for these homes increased while demand was high. This didn't last long, as people ended up owing their lenders more than the actual value of their homes and the foreclosure rate increased enormously. This contributed to businesses, as I said before going bankrupt, not being able to borrow money from banks and the government. Over the past two years, our economy has improved and the real estate market has stabilized. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayEconomy is a financial and social system describing the way resources flow through society, from production to distribution , through consumption. There are four main types of economies. , Capitalism, Socialism, Communism. Capitalism or "free enterprise" economics is what we are used to because it is what we have in the United States and it is a political system in which a country's commerce and industry are controlled by private owners for profit, rather than by the state. Socialism is an economic theory of social organization that advocates that the means of production, distribution, and exchange be owned or regulated by the community. Finally, communism is a theory that advocates class warfare and leads to a society in which all property is owned by the state and each person works and is paid according to their abilities and needs. No single measure captures all dimensions of economic performance and all operate differently across regions. Within the economy are the businesses that support them, and we have learned about the four main types of business ownership. Sole proprietorship, general partnership and limited liability. Business. All four types have their advantages and disadvantages. Nowadays, for a business to be successful, a large part of it relies on its ethical standards. As consumers, we are much more thoughtful about what a company is and make our decisions about who we buy from based solely on what a company stands for. Thanks to this, companies now regularly carry out social audits, which indicate to the said company how well it is fulfilling its ethical and social responsibilities. Now the type of business they most want to be able to do is entrepreneurship. Entrepreneurs are people who risk their time, money and other resources for their own business. Although you can earn a profitable living working for someone else, your chances of being seriously scientifically wealthy increase by owning your own business. You are solely responsible for your success or failure while answering only to yourself. . There are several ways to find funding if you don't have the money to start on your own: personal resources, loans, co-founding, angel investors, venture capital and even partnership. There are many pros and cons with this business route, but if you have the means to.