Economic Systems

boring assignment "well done' ECONOMIC SYSTEMS ASSIGNMENT Canada: The Government of Canada is a Federal Parliamentary Democracy and a member of the Common Wealth. The Prime Minister of Canada is the Honorable Jean Chretien. The Deputy Prime Minister is Sheila Copps and the Governor General is Romeo LeBlanc. There are five major political parties in Canada they are; the Progressive Conservatives, the Liberal Party, New Democratic Party, the Reform Party, and the Bloc Quebecois. The …

…authority owns Natural and Capital resources. The government decides what to produce, how to produce it and whom to produce it for. As a result initiative and morale is low among the people as there is no incentive for hard work. Lack of freedom for the people results in goods being produced inefficiently. The idea of a few men planning an economy is very complex and could not possibly fulfill the Production Possibility Curve (PPC).