Economic Systems

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Pure Economies
The Us Economy
1 Define “pure market economy



2 What is a pure command economy ?



3 What is the difference between socialism and capitalism with respect to government control ?




4 Why do we need government regulation of markets ?




5 Why do we need relatively free markets ?







6 What are the three indicators of much government is involved in the economy and how does the government use each of the areas to influence the economy ? Give an examples for each area