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.
Please make sure to Pick an imaginary country and name it.
Answer preview
The proposed economic system for Cotish is a mixed economic system. This system combines the features of both the market and command systems (Brečić, Shultz II, Sredl, & Renko, 2015). In the economic spectrum, the mixed economy system is in the middle because it utilizes both individual and community economic interests. It operates under the following principles categorized into two parts. The first category is that of a command economy, which comprises of principles like collective interest, social programs, public property, and equality. Collective interest aims at solving the needs of the whole population as a single entity. For example, a government can develop a business policy that applies to everyone in a particular country. Social program in a mixed economy is where the government implements strategies to protect the welfare of its citizens. These programs may include healthcare insurance,
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