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Economic Systems (market ((image), market in market economy producers and…
Economic Systems
market
market in market economy producers and consumers make most of the decisions . producers decide what is the best move for the economy. consumers can spend their money how they want.the government does not control business.
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mixed
in a mixed economy people and businesses are free to make there decisions. the government does make some decisions to help the business for the better. the government will set rules for the businesses unlike market economy. the government will try to balance out the economy without slowing it down.
disadvantage / advantage
the government can make rules to protect the environment and people. the government can make the wrong decisions. it could fail to make a business better and could make the business worse. also the government could fail to protect people.
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comand
in a command economy the government controls the economy. for example north Korea Kim jung un controls north Korea he controls how much people eat for the day and the houses people have. there are other countries that use this kind of strategy China, and Cuba
there some advantages to
having a command country . the government can focus on one goal that he wants to complete. a disadvantage is that the decisions that the government makes benefits him/her and not the citizens
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