Essay On Canada's Mixed Economic System

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Canada’s Characteristics of a Mixed Economic System
Canada's economy, to a large extent, has a mixed economic system that influences the actions of Canadian citizens in their daily lives. A mixed economy is a type of economic system which involves both market and command economic system characteristics. In a mixed economy, there are government run businesses (command economy) along with individual businesses (market economy). Instead of providing the people of a country with only one method of living, mixed economic systems are very versatile. Canada has components of command and market economies but, overall as a mixed economy, Canada follows the basis of the characteristics seen in market economies and incorporates some features of command …show more content…

In a market economy people have the freedom to own private businesses to create goods and services for the people. Canada has many individual businesses that are able to sell products without the intervention of the government. Consumers also have the right to buy/sell what they choose (in accordance to laws), which results in the decisions of Canadian citizens having a strong affect on Canada’s economy. The features of market economies also influence Canada’s mixed economy through the competition between various businesses because this creates employment for Canadians. Canada’s economy is similar to market economies because in Canada, depending on how well you work and give effort into completing tasks and achieving certain goals, citizens can earn jobs for their qualifications. If an individual does not work hard, they can not have the opportunity to get luxuries. An example of this is a person who has gained the skills to become a doctor is able to do so and is recognized for that, as well, through their salary and job benefits. This idea encourages Canadian citizens to strive to get a good education in order to lead a better

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