What Is a Private Closed Economy?

Individual economic behavior is the regular decision-making tendency of individuals in the economic activities as the subject of production, distribution and consumption, and a purposeful response to changes in social environment and economic conditions.

Personal economic behavior

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Individual economic behavior is the regular decision-making tendency of individuals in the economic activities as the subject of production, distribution and consumption, and a purposeful response to changes in social environment and economic conditions.

Individual behaviors and consequences will have different effects on the effectiveness of socio-economic operations and the state of socio-economic order. Under the conditions of a socialist planned commodity economy, individual economic behaviors should have the following characteristics: citizens become independent actors; society provides environmental guarantees for the overall development of individuals; and there should be multiple rules for individual behaviors.