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  • Two cousins have decided to see each other after all these years. But they live differently, one of the them named Rose lives in America with a market economy. The other named Susan lives   in China with a command economy. They both talk about their life's and how they live in each economy.
  • "What is economic freedom  & growth", said Susan
  • Rose : " I live in a market economic  that has many  positives ways of life. Goods & services are exchanged freely, competition leads to better products .  There is 0% government involvement & regulation,  It lets the people have  economic freedom & growth."
  • "Economic freedom  allows people to make their own economic decisions without interference of government & economic growth produces more & better goods and services to increase production."
  • "But there are negatives as well. Competition leads to uneven distribution of wealth,  Doesn't have economic equity."
  • In my economy we do have economic equity.  The government owns everything it provides goods & services to the people, houses/homes, jobs,health care,etc.
  • "There is also negatives there is no incentive to work hard, poor quality of goods, no  attention to individual needs.  No economic freedom nor growth." 
  • "A command economy , it produces determined by government, by producing determined by government & its employees, and determined by government who gets goods & services."
  • "A market economy, it produces based on consumer demand, by producer decides the most efficient way,  and for those willing & able  to afford it.
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