Write a 2,500 – 3,000 word paper (not counting title page or reference page) in APA format detailing an economic system for an imaginary country.

1.Name your country.

2.Choose and detail an economic system from those studied in the course

3.Explain the logic of your selection in detail (pros and cons)

a.Why is this system the best choice for your country? Are there political, geographic, topographic, heritage or other issues for which you believe this system to be well suited?

b.What would you change in the system chosen to eliminate problems encountered by countries in the past (or currently)?

4.Explain why not other systems

a.Why is your choice superior to these?

Be sure to support your opinions with properly cited and referenced sources.

Answer preview

Economics focuses on how people manage the consumption, production, and distribution systems as they try to utilize available resources. The economic system emerged from the concept of economics as a way of governing how society manages scarce resources, services, and products. Therefore, each country or geographic region must have an economic system that serves as a reference for decision…