The economic environment in which businesses operate is obviously very important. So, it's no surprise that throughout history, philosophers and economists have proposed different ways to structure an economy. One way to think about these different systems it to imagine a spectrum between pure capitalism and free markets on one end and communism or so-called command economies on the other end. What role should the government play in an economy?
1. What role should the government play in an economy?
2. Are economic measures the only benchmark we should use to evaluate progress?
3. What are some of the key advantages and problems of different economic systems?
4. What are some basic principles that YOU would use to design an economy?