Economic Systems

There are three types of economic systems: traditional, command, and market.

Traditional economic systems can be found in countries like rural China, rural India, Kenya, Conga, and Uganda.

Command economic systems are found in Cuba, China, North Korea, Vietnam, and Burma.

Market economies are found in the western world, so countries like Canada, US, Japan, Holland, England and France.

There basic economic questions for Canada:
1. What goods Canada produces is based on what region you are in because every region has different resources. Canada has an abundance of different types of resources because of the diversity of land we live in. BC could produce a lot of lumber, where as the prairies produce wheat.

2. How are the goods in Canada are produced is also a factor of what region you live in. Provinces such as BC and Ontario may use Hydro power where as if you live on the prairies you may use wind power to produce goods. Location is key when factoring how a place produces their goods.

3. The goods that Canada produces is not only for the Canadian people but its also shipped out to a global market. Goods should be produces for the benefit for the Canadian citizens, for selling on the global market and for trade.