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Give feedback: Free Market Economy-New Zealand Mixed Market Economy-United States Command Market Economy-Cuba As noted by Seth (2023), Cuba has a mostly state run economy
Give feedback: Free Market Economy-New Zealand Mixed Market Economy-United States Command Market Economy-Cuba As noted by Seth (2023), Cuba has a mostly state run economy including healthcare, education, housing, utilities and food. In 2022, it was noted that approximately 64% of Cuba's labor force works in state-run facilities, down from 88% in 2017 (Seth, 2023). The economic planning in Cuba differs entirely from the economic planning in New Zealand. New Zealand's economy is described as a free market economy allowing for open trade and private sector-led growth, with little to no interventions from the government (Economic overview). Lastly, a mixed market economy, such as in the United States, allows for free enterprise growth in most private sector industries, however intervenes and sets standards and subsidies for agriculture and regulations on manufacturing (Amadeo, 2021)
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