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Should Canada's Economy To A Market Economy Or Stay A Mixed?

657 Words3 Pages

Economics is the study of the production, distribution and consumption of Goods and Services. Economics is also about making choices. We make all kinds of choices everyday. How much should I spend on gas. What’s the fastest way to work, what should I have for breakfast, should I go to school, should I do my homework, etc. Or maybe more important questions like, should I vote this year, if so what politician, and ultimately the number one question, (at least for this essay), should Canada change their economy to a market economy or stay a mixed? Well first what is a mixed and market economy? A mixed economy is decisions that are based both on the actions of individuals in the market and on government policies and is a system that combines characteristics of market, command and traditional economies. A market economy is decisions are based on the actions of individual buyers and sellers exchanging goods and services with each other. A market economy is a system where the laws of supply and demand direct the production of goods and services. Supply includes natural resources, capital, and labor. Demand includes purchases by consumers, businesses, and the government. Now I do not think that Canada should change to a market economy for these reasons: Political Support. Social Justice. …show more content…

Because a totally free economy is not beneficial to the majority of its people it will be difficult to get the people’s support. With a mixed economy, a country is likely to have more political support from its people as this form of economy seems to be an “economic ideal”. You have the best of both worlds: free to run and have a business, with little government intervention, but for certain areas of the economy it is regulated by the government to ensure the public health and safety for all and access to necessary items like food and water, shelter and

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