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Economic Systems, page 176 in text, Dylan White (Market/Capitalism…
Economic Systems, page 176 in text, Dylan White
Market/Capitalism
Description: Producers and consumers make all the economic decisions. You have control over your business and decisions. :beer_mugs:
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Mixed
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Command/Socialism
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Description:Summary,point form: Government has control over all recources and all means of creating wealth
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State Run Capitalism. State-run Capitalism means that the government owns and operates large companies to generate profit and to make themselves very very very wealthy. In the same system there are private owned companies like Canada or the States the best example is China.
Advantage: Make economic improvement and growth very fast and very effective. China has improved the quality of life to over 300 million people.
Disadvantage: Lack of rights for freedom of speech, lack of democracy.
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