Using information from the textbook and also information from current issues, please answer the following Define the 3 economic systems (Capitalism, Socialism and Communism) Examples of where we can find those economic systems (At least 2 countries each) Good and bad of each economic system Which w...

a Capitalism is an economic system in which private individuals or businesses own the means of production and operate for profit Socialism is an economic system in which the means of production are ow ...

Using information from the textbook and also information from current issues, please answer the following: Define the

Fantastic news! We've Found the answer you've been seeking!

Question:

Using information from the textbook and also information from current issues, please answer the following:

Define the 3 economic systems (Capitalism, Socialism and Communism)?
Examples of where we can find those economic systems? (At least 2 countries each)
Good and bad of each economic system?
Which would you prefer to live in, and why?
How does Fiscal Policy and Monetary Policy differ from each other and how each affects the economy?
At the present time there remains some controversy about these two concepts. As a member of President Biden's economic team, it is your turn to cite the direction you feel the country should work towards going, is it free global trade or Protectionism? It is imperative that you strongly substantiate your recommendation. Points for this question are centered around how you defend your recommended position vs. the alternative.