Capitalism+and+Socialism

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**Capitalism and Socialism Exploration A**
Using the Economic Freedom Index link below, pick three countries, one from the top two categories (free/mostly free), one from the middle, and one from the bottom two categories.

Economic Freedom Index

Describe their economies in a doc posted on classroom.

Then, look these countries up in the CIA World Factbook. Working with a partner, use CIA World Factbook, use the "Select Country or Location" tab in the upper right hand corner.

Answer the following questions.

What type of economy (capitalist/socialist) does the country **mainly** have? defend your answer with support/quotes from the economic description. Does the description of the economy reflect any elements from the other economic system? if yes, defend your answer with support/quotes from the description. What are the strengths and weaknesses of each countries's economy? identify and explain any connection to capitalist or socialist ideologies.

then consider the following questions: (paper or google docs, 1 per group) 1. How can the presence or absence of natural resources and arable land affect a nation's economy, regardless of the type of economic system? 2. How can life expectancy and literacy rates affect the quality of labor in the economy? 3. How can fertility rates affect the use of scarce resources? 4. How can GDP per capita and poverty rates indicate standards of living in each system? 5. How can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization? 6. How can electricity, excommunication, and transportation facilities indicate the potential for industrial growth? 7. Considering the lack of natural resources, the labor problems, and the lack of capital and little industrialization of developing countries, how can developing countries develop?

Economic Freedom Index

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