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Should Canada and the United States Have a Common Economic System With Limited Government Involvement????
Transcript of Should Canada and the United States Have a Common Economic System With Limited Government Involvement????
Consumers are protected from harmfull products because the government must say it's okay before it can be sold. The government makes sure the consumers are getting what they pay for and protect them from unfair treatment.
Because of competition, we are getting high quality products and services. Everyone wants to do better than their competition, so they produce better things.
Products are distributed more evenly across the country.
Prices are rather stable in a mixed economy. Market Economy: In a market economy, investments may be distorted. This is because people are thinking about what will make the most amount of money, and not what people really need (like public education, health care, etc).
Employers tend to exploit their employees by making them work harder, faster, and longer. Employees often don't get paid fairly because the employer wants to make more money.
There is a growing unemployment rate in a market economy.
There is a big gap between the rich and poor. The rich tend to keep getting more money, while the poor continue to get even less. This gap can cause social problems. In a mixed economy, there are lots of benefits for ALL. We think of ourselves as a whole, and work together to make us even better! In a market economy, everybody thinks for themselves. They make economic decisions for themselves, and they don't think about others. A market economy reflects the individual, not the whole. MIXED ECONOMY VS MARKET ECONOMY Canada has a mixed economy The U.S.A has a market economy Why BOTH Canada and the United States should have a mixed economy: If we both had a mixed economy we could support ourselves. Canada lends money to the United States occasionally, which could in future, leave Canada with little money. For example: Canada just lent $550M to Michigan to finish their half of the bridge between Windsor, Ontario to Detroit, Michigan. If the U.S.A had a mixed economy they might have been able to pay for the bridge themselves, putting not stress on Canada. We need to work together, and for that to happen we both need economic stability. This will be best achieved through a mixed economy. Conclusion: I believe both Canada and the U.S should have some government involvement in their country. It will secure both countries futures, and lead to success. The majority of people would be happy to know that the government is looking after them and that the government supports them. By. Kennedy Poch