The Selection of Economic Systems


  • Canada
  • Mexico
  • India
  • Mauritius
  • Philippines
  • Ethiopia
  • Cuba
  • Zimbabwe
  • Market
  • Economy
  • Command
  • Economy
  • Traditional
  • Economy

(Sir I placed these countries based on the time of 2003 to 2004 because the CGDP on that site you provided us would only rise to 2004. I tried my better to find countries that fit the traditional economy however, not many do because everyone depends upon technology rather than previous traditions. )


Jordan: I positioned Jordan in the positioning above because Jordan has a combined overall economy. This country has both market and command overall economy. However, the country is more involved in the command overall economy than the market economy compared to Canada and Mexico. Jordan's CGDP is roughly 50. 03%. Jordan is greatly determined by the government for its economic growth. The government has a say in every decision that influences Jordan. For example, the government control buttons Jordan's education, they want to help the unemployed people and lower poverty. The government puts an emphasis on housing tasks, creating jobs and easing the life of most Jordanians. I believe Jordan has market current economic climate too because people with wealth have an adequate control over resources, just how they are really produced and who uses them.

Canada: I put Canada among Jordan and Mexico because its CGDP is higher than Mexico and it has a mixed economy. The government and Canadians of Canada have an equal contribution to Canada's financial state. The government renders a lot of Canada's services such as health and education. However, the consumers are more associated with Canada's economy because they are solely in charge of the choices they make. For example, there are a huge selection of grocery stores around Canada, but all of them have different rates for different products. If the federal government acquired a say in prices all stores would need to maintain equal prices. This is when the consumer's choice comes in; the consumer is accountable for his/her own decision on where you can buy their products. Therefore, owner and the buyer are the only ones involved with a deal.

Mexico: I positioned Mexico closer to a market overall economy because unlike Jordan and Canada, the federal government is not involved with many decisions the united states makes. That is shown through Mexico's CGDP which is fairly close to Canada's CGDP. The government in Mexico just offers Mexico an overview of their current economic climate, while the people in Mexico are accountable for helping the economy. The private sector of Mexico handles modern and outmoded business, agriculture and imports and exports of resources. Information show that private consumption has helped the development of Mexico's overall economy because it has increased work and wages. Instead, of experiencing the federal government do everything for you, people are supplying themselves a chance to help Mexico expand.


India: I believe India has a market based current economic climate because the federal government isn't really associated with the decisions. The current economic climate is more about the connection between employers, employees and consumers. India's workers give attention to agriculture and companies to assist in economy. India is has a normal current economic climate because many parts in India give attention to community farming, modern agriculture, and handicrafts to help the market.

Mauritius: I positioned Mauritius before Philippines because it seems to have a more market based economy than Philippines and is slightly dropping its traditional economy set alongside the Philippines. Mauritius was an undeveloped country, where everyone depended on sugars for the money. In Mauritius everyone depended on the resources around them and what that they had learned using their ancestors to produce a living. However, down the road Mauritius developed now many people go to visit this place. Visitors help add to the overall economy because they have no location to live and have to choose a hotel to stay in. There are many economic activities that the folks of Mauritius control such as, textile and garments industry, travel and leisure and financial services.

Philippines: I placed Philippines among a market market and a normal economy, but nearer to a market economy because Philippine's is not completely developed like other countries in the world. Furthermore, the government doesn't have direct participation in monetary activities regarding Philippines. The Philippines has typically been had a market economy (coverage and practice sensible). They are simply free to open development and market them anywhere in the united states or hotel to exportation. There is not one country that is totally traditional, the Philippines is somewhat traditional in the way they make money. A number of the undeveloped areas in the Philippines make their money through forestry, sportfishing, and farming. These people think about the old-age customs to adapt to the surroundings and sustain the economy.


Ethiopia: Ethiopia has a CGDP of 31. 24, which is higher than every one of the other countries CGDP I choose out of this section. The Ethiopian government has manipulated Ethiopia for many centuries. It's the only country in Africa that has practically zero privatization. However, this negatively affects the economy because administration control prevents progress in the agricultural sector of the country. Since, Ethiopia lacks agricultural resources it has to adhere to a traditional economy to obtain some of the require resources using what these were initially taught prior to the development of this country.

Cuba: While researching I came across that Cuba has a emphasis on both traditional economy and command market. There are many people in Cuba that trade or barter for success. They use techniques which were found in the olden times to strategize ways to improve the overall economy. Furthermore, their administration is clearly involved in their work. The federal government mostly makes the decisions about production, whether it is what's produced or how much to ask for the government makes a decision everything. However, Cuba has the poorest economy for their government's decisions. Further, its CGDP is 27. 05, which is near Ethiopia's CGDP and greater than Zimbabwe's CGDP.

Zimbabwe: Though Zimbabwe doesn't have a higher CGDP percentage in comparison to other countries is flawlessly fits in between your order and traditional market. As many of us hear from the news Zimbabwe's is a very terribly developed country situated in Africa. I really believe their economy is a command word market because many Zimbabweans are facing starvation due to the high unemployment rate. Since many Zimbabweans don't have durability to help their overall economy, they let the federal make decisions and take responsibility for the resources. The government handles the making sector of the country. Furthermore, The Zimbabwe Development Company helps make investments the government's cash to help the country in its current state. Finally, since Zimbabwe is facing a financial crisis at the moment, many people be based upon the other person to get food, shelter, health treatment because they can not manage to buy it.

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