Mixed,Market, and Command economies
Shalexia Rowe Shardajah Gaines
In a mixed economy consists of a mixture of either markets and economic planning, public ownership and private ownership, or free markets and economic interventionism. Some examples countries are the United States and Western Europe. In the United States there's a high level of economic freedom.People choose their own occupations, employers, and users for their money.The people own their own resources.There's also a high level of price stability. The prices usually are constant and don't jump from high to low. The government and the people both make economic decisions. Everyone has a voice.
In a market economy decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system. Examples of places with a market economy is Hong Kong, Singapore, and Switzerland. In Switzerland its strong property rights result in appealing protection for intellectual property, which healthcare and other firms highly appreciate. The people make most of all the decisions.
In a Command Economy authority such as the national government decide what to do, how to produce and to whom goods and services will be allocated. Examples of Command economies are North Korea and Cuba. The dictators make all the decisions in a Command Economy. Economic freedom is none because you have to do whatever you are told to do. The people have no say so.