What are the advantages & disadvantages of the following types of economic systems? by https://padlet.com/marksamuelshel/f821xyjc6pw7smk0 1. Centrally Planned Economy 2. Market Economy 3. Mixed Economy Give an example of a country that uses each of economic system en-us 2021-01-27 15:10:07 UTC 2024-06-22 15:15:13 UTC hello@padlet.com https://padlet.net/icons/png/1f913.png Mark marksamuelshel https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134123772 some of the advantages of an economic systems are:
easy to implement 
no government intervention
e.g. USA

]]> 2021-01-27 23:03:58 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134123772 Renee https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134123902 2021-01-27 23:04:03 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134123902 Karesia https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134124294 Advantages of a centrally planned economy are : high growth rates
: unemployment could be avoided ]]> 2021-01-27 23:04:18 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134124294 Stephanie https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134124403

]]> 2021-01-27 23:04:21 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134124403 kimberly https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134126732 Market Economy disadvantage Power & property may be unequally distributed 
eg the rich get richer and the poor stay poor]]> 2021-01-27 23:05:43 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134126732 jewel https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134126808 1. centrally planned- CHINA
advantages- there is less inequity of wealth 
2. disadvantage- Consumers cannot choose and only those goods and services are produced which are decided by the government. 

market economy- India
advantages- no single firm has market dominance when markets are highly competitive 
disadvantages- power and property may be unequally distributed 
mixed economy- trinidad 
advantages- distributes goods and services to where it suppose to be 
disadvantages-there is usually high corruption and mismanagement 
 
 

]]> 2021-01-27 23:05:47 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134126808 Priya https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134127074 2021-01-27 23:05:57 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134127074 https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134127352 Vishanna]]> 2021-01-27 23:06:08 UTC https://padlet.com/marksamuelshel/f821xyjc6pw7smk0/wish/1134127352