0102 Economic Systems

Which of the following is NOT typically included in a modern economy?

Which of the following factors shape economic systems?

Which of the following are characteristics of a market economy?

Country X has a healthy economy that is driven by what citizens want. Where there is demand, manufacturing follows, as long as they follow government guidelines. What kind of country is present here?

Country Y has an economy driven by its government. Citizens are provided with certain necessities but are not allowed to own businesses. Country Y does not trade with neighboring countries to get what they need. What kind of economy is present here?

Country Z encourages its citizens to come up with new ideas and open businesses to create more GDP for their country. Citizens still have to pay taxes and follow the rules established by the government, but generally experience more freedom to make their own decisions. What kind of economy is present here?