Asked by Melissa Brown on Jul 15, 2024

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Of the following countries, which one best exhibits the characteristics of a market economy?

A) Canada
B) Cuba
C) North Korea
D) Belarus

Market Economy

An economic system in which supply and demand from consumers direct the production of goods and services.

  • Examine the particulars and outcomes of market economies in opposition to command economies.
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MK
Matthew KonicekJul 22, 2024
Final Answer :
A
Explanation :
Canada is a country with a predominantly market-oriented economy, characterized by free trade, entrepreneurship, competition, and private ownership of property. The government only intervenes in specific areas such as public services, social welfare, and the regulation of the financial sector. Cuba, North Korea, and Belarus are socialist countries with state-planned economies, in which the government controls almost all aspects of economic activity, and private property is limited.