Social Studies, 25.03.2020 16:42 haleylayne74

Think about what you learned about daily life in cuba and the united states. match each description to the correct country.
live in a command economy.
may make few economic decisions.
may have few business opportunities.
may be free to start businesses.
are responsible for their own needs.
live in a mixed market economy.

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(1) live in a command economy, the country is Cuba, (2) may make few economic decisions, the country is Cuba (3) may have few business opportunities, the country is Cuba (4) may be free to start business, the country is United States (5) are responsible for their own needs, the country is United States (6) live in a mixed market economy, the country is United States

Explanation:

Command economy can be define as a type of economic system in which resources are owned and controlled by the state.it is a type of economic system in which most economic activities are owned and controlled by the state. The state make the fundamental economic decisions of what to produce, how to produce, and for whom to produce. It is otherwise known as centrally planned economy.

Capitalism can be defined as a type of economic system in which the control and ownership of resources are in the hands of private firms and individuals. The system allows owners of these resources right to make decisions on what to produce, how to produce, and for whom to produce. Individuals are free to start any business of their choice as long as they have resources to do so. It is otherwise known as free market economy.

Mixed economy can be defined as a type of economic system in which the ownership and control of resources are in the hands of both private firms and state. The private firms and state both make decisions on what to produce, how to produce, and for whom to produce. In this type of economy, there is freedom to invest in the business of your choice and also the state intervene where the need arise in the economy.

I will now match each description to the correct country as follows

Live in a command economy = Cuba

May make few economic decisions = Cuba

May have few business opportunities = Cuba

May be free to start businesses = United States

Are responsible for their own needs = United States

Live in a mixed market economy = United States

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