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Economic System p.176 (Market (The United States and Taiwan are market…
Economic System p.176
Market
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Advantages: Business would try to compete for the same market, they would keep the price down to attract the costumer
Consumers are free to decide how they would spend their money, government might provide national defense, road building, policing, and fire protection
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Command
China , Cuba, North Korea
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Advantages: Government could focus on one goal
Disadvantages: The government could make the whole country go famine, such as North Korea
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Mixed
Advantage: Make their regulations to protect the environment
Disadvantage: Fail to encourage business or fail to protect people
Individual and business are free to make any decision to encourage and would imporve people's quality of life.
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