Economic Systems
Abby Cyr and Allon Ingram
Mixed Economy
Economic Freedom in a mixed economy is rated 4 1/2.
Economic Efficiency is rated 4.
A mixed economy reaches its goal of Economic Freedom and Economic Efficiency by giving us the people the freedom to buy,or sell whatever we want with the government having little to no interference. however, we do have to pay taxes.
Example: Brazil and China.
Command Economy
Economic Freedom in a command economy is rated 1 because there is no freedom there.
Economic Efficiency is rated a 3 also because the people have almost no control.
Example countries will be Iran and Cuba.
Government makes the decisions.
Market Economy
Economic Freedom is rated 4 1/2 because we have freedom of choice.
Economic Equity is rated 3 because Americans have a strong sense of justice, fairness, and equality.
We the people own the resources.
Example Countries would be Mexico and South Africa.