Economic Systems
Market Economy
Economic Freedom
It gives consumers their free will to spend their money on what they want.
Economic Efficiency
The government cannot help out those without, because they will have to rely on themselves.
Price Stability
Since there's no government regulations, the producers can set the prices at there wants.
Countries Who Are Market Economy
Argentina, Brazil, Chile, China, Colombia, Egypt, Hungary,India, Indonesia, Kazakhstan, Malaysia, Mexico, Morocco, Peru, the Philippines, Poland, Romania, Russia, Saudi Arabia, South Africa, Thailand, Turkey, the UAE, Ukraine, and Vietnam.
Who Owns Resources
People
Who Makes Economic Decisions
The People do.
Mixed Economy
Economic Growth
There are mostly jobs available for everyone.
Economic Security
The government provides social security for those who aren't able to work.
Economic Equity
Producers have to make sure the consumer know what he/she is buying.
Countries who are a Mixed Economy
UK, USA
Who owns resources
People, and some from the goverment
Who Makes Economic Decisions
Government and People
Command Economy
Full Employment
The goverment make sure that almost everyone has a job
Economic Freedom
The have no economic freedom. The government controls everything.
Economic Efficiency
Since there's no market, the government provides everything for it's people.
Countries Who Are Command Economy
Burma, Cuba, Iran, Liberia, North Korea, the Soviet Union and China
Who Owns Resources
Government
Who Makes Economic Decisions
Government