Economic Systems Smore
By Michael Harper
Command Economy
Goals : Economic Freedom
rating 5 ; because we can spend our money how we want , also we can work where we want if we qualified
Countries:Cuban ,China, North Korea
Who Owns Resources: The Government
who Makes Economic Decisions: The Government
Mixed Economy
Goals: Full Employment
rating 5: because we can spend our money how we want , also
Countries: Brazil, Kenya, China, France
Who Owns Resources: The Government
Who Makes Economic Decisions: cons
Market Economy
Goals: 1. Price Stability: a Rise in the general level of prices
2. Economic Efficiency: Economic Decision Making Must be efficient so that benefits gained are greater than costs incurred.
rating 3: because benefits gained are greater than cost incurred
Countries: South Africa, Mexico, Janpan
Who Owns Resources: Individuals
who makes economic decisions: Based On Supply And Demand
what is produced: By Consumers