Friday, March 6, 2015

Economies of the World

Country #1:
This country is a 1, a command economy. In a communist country or a command economy, the government has control over all the economy, and in this example the government is clearly in control. The country's government controls the production of everuthing and it sets priorities for economic system's development which means that the government has control over the growth of the economy. The money is managed by the government and the article states that this is one of the few countries with an almost-complete planned economic system.

Country #2:
I think this country is a 10, it has a free market system. The government has very little control over the economy and is not allowed to take people's property unless it's following strict rules that explain why they need the property. In this country there is no tax and the government  can't determine the price of the products that are being sold. Although some people might think it is not completely a 10 because the government does have some involvement, in a free market system the government can have little involvement and in this case it does. The constitution of this country states that there is free trade and choice on what people want to buy or sell and the government has little to no involvement when determining people's needs and wants. 

Country #3:
This country is now a 4, mostly a mixed economy, but it is kind of leaning more towards a communist government system. Here are some reasons why the economy is leaning more towards a command economy:
1) There are a lot of social services. The security has recently improved, which means that the government has applied more military and police officers which are both examples of a social service. 

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