Types of Economies
Tamia Perkins, Derrick Odom
- Economic Efficiency: Rating - 5, because in a mixed economy, you have the right amount of goods needed for the economy to prosper.
- Economic Freedom: Rating - 4.5, because in a mixed economy, government basically gives you all the freedom you want/need, however, the government does have certain rules and regulations that manufacturers have to abide by.
Ex. United States
-Economic Freedom: Rating - 1, because in a command economy, the people really don't have any say so. Its either you take what the government allows you to have, or you do without the specific good..
Economic Equity: Rating - 3, because in a command economy, there's no discrimination or anything, however, in most command economies, their leaders are dictators, which means everyone works and everyone basically has the same low budget job.
- Economic Freedom: Rating - 5, because in a market economy, business and individuals produce, sell, and consume whatever they need/desire. Governments in a Market Economy don't put any regulations on products.
- Economic Equity: Rating - 5, because in a Market Economy, the government doesn't discriminate against anyone, everyone has equal opportunities to prosper.