Market Project

Germany Tour

Germany is the birhtplace of the Mercedes-Benz, so there are numerous factories here. Germany is a country that uses the free market. Free markets include profit motive and competition. There are many positives to using a free market, like consumer sovereignty, meaning that the consumer is king. Another upside to free markets are that they include individual choice, so everyone can decide what they want to buy, and what jobs they want. Our bus is now passing by a German elementary school, if you will look to your right. Continuing on, free markets also use private ownership of property and resources. The only downside is that there is minimal government invlovement, so products and businesses aren't regulated.
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Cuba Tour

Here in Cuba there are a lot of plantations and cattle ranches due to the government's involvement in the economy and the demand for food. There are some advantages to having a central government, such as not having to worry about not having enough money to pay for rent or groceries because everyone is paid the same amount, which is enough to afford basic needs. The downsides are that there is no consumer decision, so you will end up buying things you don't care about, and everyone is paid the same, so if your job requires more effort than another person's, you will still be making the same amount of money.
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Peruvian Farming Village

Here in the Andes Mountains there are several Indian farming villages that use a traditional economy. The advantages of using this economy is that you won't have to spend time deciding what kind of job you want because you will have been taught how to work your parents job from an early age. The disadvantages are that there are very little choices regarding your job and that you don't have a choice in which job you want, so if you don't like your dad's farming job, you will still have to farm. Another downside is that there is a lack of progress, and that leads to a lower standard of living conditions.
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