What are the two types of economic system that Canada has?

Answer 1

canada_has_mixed_economic_system">canada_has_mixed_economic_system">canada has mixed economic systemwhat specifically are the economic systems???

There Are no economic System"s" Just one Classification of the Economy But I think you're thinking about the government classification. If you Want to know, Canada's Government is classified as a CONSTITUTIONAL MONARCHY. If you are looking for the economic system of Canada, It is classified as a MIXED ECONOMY but it is more market than command.

Made by DumbMuffin

Answer 2

Market Economy

In a market economy, national and state governments play a minor role. Instead, consumers and their buying decisions drive the economy. In this type of economic system, the assumptions of the market play a major role in deciding the right path for a country's economic development.

Market economies aim to reduce or eliminate entirely subsidies for a particular industry, the pre-determination of prices for different commodities, and the amount of regulation controlling different industrial sectors.

The absence of central planning is one of the major features of this economic system. Market decisions are mainly dominated by supply and demand. The role of the government in a market economy is to simply make sure that the market is stable enough to carry out its economic activities properly.

Planned Economy

A planned economy is also sometimes called a command economy. The most important aspect of this type of economy is that all major decisions related to the production, distribution, commodity and service prices, are all made by the government.

The planned economy is government directed, and market forces have very little say in such an economy. This type of economy lacks the kind of flexibility that is present a market economy, and because of this, the planned economy reacts slower to changes in consumer needs and fluctuating patterns of supply and demand.

On the other hand, a planned economy aims at using all available resources for developing production instead of allotting the resources for advertising or marketing.

Answer 3

I don't Know go to Canada and ask them yourself retard maybey they can tell u im not Canadian

...your calling me the retard when you cant spell "maybe"?

Answer 4

The free enterprise system

Answer 5

Canada and the U.S have a mixed economy.