DSS

Which of the countries has the least freedom to do business? (explain why next to your answer)

a. Brazilb. Canadac. Cubad. Russia

Comparing the Economies of Canada, Cuba, and Brazil

Canada

Who owns businesses and farms?

Private citizens and corporations

Canada

Who decides what to produce and how much to produce?

Private citizens and corporations

Canada

Who decides how goods and services will be produced?

Private citizens and corporations

Canada

Who decides distribution methods and prices for goods and services?

Private citizens and corporations

Canada

Who decides the prices for goods and services?

Buyers and sellers based on supply and demand

Canada

How are property rights protected?

Laws and a good court system protect people’s property rights

Canada

How difficult is it to start your own business?

Very easy, in a few days

Cuba

Who owns businesses and farms?

Mostly owned by the government; some private ownership of small farms or businesses

Cuba

Who decides what to produce and how much to produce?

Government planners

Cuba

Who decides how goods and services will be produced?

Government planners

Cuba

Who decides distribution methods and prices for goods and services?

Government planners

Cuba

Who decides the prices for goods and services?

Government planners

Cuba

How are property rights protected?

Some personal property rights allowed, but judges and the courts are run by the central government

Cuba

How difficult is it to start your own business?

Very little private business allowed

Brazil

Who owns businesses and farms?

Private citizens and corporations for the most part; the government owns some larger industries such as steel

Brazil

Who decides what to produce and how much to produce?

Private citizens and corporations for the most part; the government controls some larger industries such as steel

Brazil

Who decides how goods and services will be produced?

Private citizens and corporations for the most part; the government controls some larger industries such as steel

Brazil

Who decides distribution methods and prices for goods and services?

Private citizens and corporations for the most part; the government controls some larger industries such as steel

Brazil

Who decides the prices for goods and services?

Buyers and sellers based on supply and demand

Brazil

How are property rights protected?

Laws are in place, but a poor court system is a problem for protecting property rights

Brazil

How difficult is it to start your own business?

Somewhat time-consuming