USA

Modern Mixed Economy: is one that combines both the use of markets and significant government presence in economic decision-making.Includes a private sector. Economic activity dominated by markets.-

Traditional Mixed Economies: Where, market driven industries, such as mining, co-exist with a traditional sector. Public + traditional sector.

Canada Sweden KoreaMARKET COMMAND

TRADITIONAL

India

Traditional Mixed Economies

Modern Mixed Economy

MyanmarMongolia

Canada: A Mixed Market EconomySeptember-17-08

9:02 AM

The Canadian economy contains elements of traditional and command economies.•The Canadian economy is classified as a mixed economy•Our country's economy includes both private enterprise and state-owned enterprise.•The Canadian system tries to integrate the best features of all 3 economic types, E.g. Land ownership-Canada allows for state-owned or CROWN LAND - features of command economy. It also permits private ownership if land - feature of market economy

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Conflicting GoalsSeptember-17-08

9:21 AM

Strategies to keep prices stable often have an adverse effect on employment rates + national production. Governments can promote price stability by raising interest rates in order to control the amount of money in circulation as it becomes more expensive to borrow money for investment: Businesses hire fewer workers + production levels either remain constant or begin to decline.

Increases in employment +production as the opportunity cost of stable prices.

Tangible Resources-

Natural resourcesa.Land1.

Modern Mixed EconomySeptember-17-08

8:55 AM

Unit 1 Page 1

Natural resourcesa.Waterb.soilsc.

Skilled workersa.Labour2.

Facilitiesa.Equipmentb.Machinesc.moneyd.

Capital3.

Intangible Resources-

Sciencea.Technologyb.experiencec.

Knowledge1.

Managementa.Directionb.Risk takingc.

Entrepreneurship2.

Work ethica.Politic stabilityb.Economic stabilityc.

Environment3.

Unit 1 Page 2