By Marilena De Luca | Block 4 | 5-5-15|
Who controls the economy?
Roles of the citizens/people?
Freedoms of the people?
Producer and Consumer Interaction
-Where is it?
3 specific examples
Some examples of countries that have mixed economies include Iceland, China and the United States.
Why is my economy the best?
its the best because it includes Social justice which means it gives a chance of wealth , opportunities and privileges within a society. also b/c its progressing equality within everyone evem because 1 can still run a business w/o government control. The mixture of capitalism and socialism does good for everybody. Everyone isn't fully satisfied, but everyone is at least partly satisfied. .
Weakness of the other economies
-command economy stystem weaknesses- 1 is that it is not designed to meet the wants of consumers, even though many basic needs are provided, another is that the system does not give people the incentive to work hard.. Also a 3rd weakness of a command economy is that it does not have the flexibility to deal with minor, day-to-day problems.
-traditional economy system weaknesses - restrictcts individual initative &also lack of goods, new technology, & growth