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1. Debt - 16 Billion Dollars

2. Recession - Since 2007

3. Unemployment - 9%

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What are the 3 basic economic system models?

The 3 basic economic system models are mixed economy, command economy, and free-market economy. In a mixed economy recourse are owned publicly and privately while in a command economy resources are owned by the government.


What type of economy answers the three basic economic questions?

3 types of economic system


What is an economy that answers its basic economic questions by doing things the way they always have been done called?

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Which economy answers the 3 basic economic questions with the phrase do as you have always done?

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Who answers the 3 basic economic questions in a market economy?

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What impact did 3 quarters of negative GDP have on the economy?

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3 types of flows within the international economic exchange during 1815-1914?

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There are basically four kinds of economic systems: 1) Market economy- An economic system in which individuals own and operate different factions of production. Examples: Free Enterprise & Capitalism 2) Command economy - An economic system in which government owns and operates all factions of production. Examples: Socialism & Communism 3) Traditional Economy - An economic system based on culture and tradition. Economy is based on agriculture and hunting. Examples: Non-Industrialized agrarian societies. 4) Mixed Economy - An economic system where both command and market systems are featured. Examples: United States is not a pure capitalist country for there are forms of socialism instilled in it to benefit individuals in need of services and has minimum wages, however, free enterprise reigns in the U.S. China also has both forms of economy, however, the Chinese government controls the prices and production.


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education economic social ideological


What is the role of saccos in economic development?

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