In this chapter we have discussed the varying spectrum of economic system in the world economy. From the extremely regulated (communist) planned economies of North Korea and Venezuela, to the largely unregulated free market systems found in Hong Kong and Singapore. Review the following link to the 2018 Index of Economic Freedom (Links to an external site.)Links to an external site. and determine what type of economic system is found in the United States and one other country of your choice.
Answer the following prompts:
1. Provide specific examples describing why you feel the United States is either a free market, mixed, or planned economy. Give examples of specific industries or laws that support your response.
2. Using the Index (Links to an external site.)Links to an external site. analyze a country you have visited, or want to visit, and describe what economic system they have. Provide specific examples of laws or industries that support your claim.
3. Reply to two other classmate’s post supporting, or refuting, their claim about the United States or their chosen country.