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Discuss why the following statement might be true: “Economic decisions in a capitalistic country are influenced by the federal government about 10 percent of the time; in a socialist country, about 50 percent of the time; and in a communist country about 90 percent of the time” .
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Discuss why the following statement might be true: “Economic decisions in a capitalistic country are influenced by the federal government about 10 percent of the time; in a socialist country, about 50 percent of the time; and in a communist country about 90 percent of the time” By: Kevin Patterson
The economic quote about the federal government controlling the economy based on the type of government is true due to the governments. • In a capitalistic country the federal government will influence the economy the least of the governments due to the freedom it gives. A capitalistic country which basically is the U.S. gives the most freedom to companies but puts standards to help shape the economy. • In a socialist country the federal government will influence the economy moderately. A socialist country won’t control all of it, but they do make economic decisions such as the European countries being very active in their own economies but not controlling. • In a communist country the federal government will basically control the economy. Countries like Cuba can control all aspects of the economy like who can open a company and what they can sell.
