An with this economic system are usually communist. This

An economy is the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services. There are many different type of economic systems that any country could use, although it all depends on the resources and how the country’s government is set up. Two examples of economic systems are a mixed economy and a command economy. A mixed economy is when is the combination of market and command economic systems. There could be many variations based on what a country chooses to go off of. The most common mixed economic systems seem to usually have free markets but there are some instances where the government could control the market. An example of a country using the mixed economic system is the United States. It protects ownership of private property and also limits government interference in business operations. Although it may seem as if the US has a great economic system there are many kinks in the economy itself; it is not perfect. For example a mixed economy can lead to too much inequality by allowing too much and inefficient allocation of resources. Another disadvantage would be when growth does not bring jobs causing unemployment; for instance in the United States A command economy is another economic system. In a command economy is controlled by one power usually that being the countries government, therefore countries with this economic system are usually communist. This means that the government has the power to regulate the resources because the country has a large amount of valuable resources. Some advantages of a command economy would be that it is able to create a healthy supply of its own resources, which would allow affordable prices on goods. Most importantly there is rarely any shortage of jobs within. A major disadvantage with in the economy would be that The needs of the society are often ignored for the betterment of the economy. Workers are not given options on where they can be employed or where they can move.In my opinion I feel that a mix between a mixed economy and command economy would be most effective for the United States in today’s society because although both have their flaws when the good characteristics taken from both economic systems and put into one then it could create a good economic system that the United States would be able to use. I feel that it would be smart to combine the way a command economic system regulates valuable resources and combining how a mix economic system allows free market. Since in a mixed economy there could be less employment, combining a command economy would help create more jobs. For instance to get more Americans in the workforce it would help to start up more companies. Since we are combing a command economy it would be easy because people are already allowed to control the agriculture industry therefore the government would be able to help build up more companies to help employ more Americans. In conclusion all economic systems are very unique and can vary with from being very limited to being a lot more free than others. I feel that an economy that stands in the middle from limited and free can result in a good outcome.


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