Imagine that the leaders of a poor nation with a centrally planned economy become willing to try a different economic system, and hire an economist from a rich, market economy nation to advise them. The economist recommends a switch to a market economy. What will the economist suggest the leaders order their citizens to do?

Which of the following is an example of a traditional economy?         The majority of people in Country B work in factories under very poor conditions for little pay.         The population of Country D is involved in a wide array of professions, including agriculture, service industries, technology, and manufacturing.         Country A relies on oil for most of its national income.         The vast majority of people in Country C are involved in hunting and fishing, though there are some farmers too. There are also some artisans who create basic products and services, which they trade to farmers in exchange for food.

In planned economic systems, government agencies control both supply and price of the products.   True   or  False?

You have taken over the Canadian government. As the Dictator, you took on yourself to end the destruction of the environment by your citizens. As a dictator, you are no longer limited by the challenges of democracy and do not require the agreement of the public but you are limited by the limitations of the existing economic system. Explain what policies you would implement. How you expect these policies to solve the problem. By using the relevant Microeconomic models we learned in class throughout the semester, demonstrate how your policies affect the relevant markets. Show the direct impact and the indirect impact (positive and/or negative) on other markets affected by the changes you propose. For each policy: describe your policy, what are you hoping to achieve, what are your assumptions you are making and explain the economic mechanism that is taking place. Demonstrate graphically how it affect the current status in the market. WITH GRAPH PICTURES