Day 3 - Economic Systems

5 Traditional Economic Countries (Rural Areas)
China
South Africa
India
Indonesia
Bangladesh

5 Command Economic Countries
China
North Korea
Cuba
Burma
Vietnam

5 Market Economic Countries
Canada
United States
Britain
France
Japan

3 Basic Economic Questions (Canada)

1.  Goods that should be produced in Canada are goods that are...
a) In demand in the market
b) Vital for its citizens' survival
c) Goods that are in demand can be traded for its citizens' survival
d) Whatever sells

2. Ideally, all goods should be produced in the most cost effective manner possible. Also, producing goods in a very "green" manner is ideal as well.

3. The goods should be produced for the consumer, otherwise it is not profitable. Whether it be a consumer from Canada itself or an international consumer. Supply and Demand.