There are two extremes when a nation chooses an economy. A nation can have a centrally planned economy where the government makes all the economical decisions or a free market economy where the government stays away from the economy and economical decisions are made by agreements between the producers and consumers. There are no nations in the world today that have wholly either free markets or centrally planned economies. The type of economy that a …
showed first 75 words of 3284 total

showed last 75 words of 3284 total
…environment by the use of fines and emission regulations. This promotes the production and research of air filters and safe disposal techniques. If the government does not set environmental techniques many businesses will dump waste chemicals into the environment and heavily pollute the air in pursuit of higher profit. This leads to the formation of a mixed economy because it can provide a middle ground between government decisions and consumer demand to influence production decisions.