REPORT: The economic system of EEUU, North Korea, and Chad

In the previous chart you can see the comparison of three different countries, with different
economic systems: The Unites States, which has a free market economy, North Korea with a
commanded economy and finally Chad, with a traditional economy.
The facts which are to be compared, give general information about the Country, the economy,
and their people.
In the following paragraphs we present the results roughly but mainly focus on the comparison
of the three countries, what are the differences and what conclusion could we get from this
investigation? Is one of the Systems the best? What are the advantages and disadvantages?
What is good, what is bad?

The United states have a free market economy, which means, that supply is regulated by the
demand and needs of the consumers. Various companies are offering then these products and
decide on their own how and where to produce their goods. Companies which cannot fulfil the
costumers needs don’t survive on the market.

The second state, North Korea is a typical commanded economy. The state is regulating what to
produce, how and where. There is no competition on the market and the trading with other
countries is difficult.

Moreover Chad has many characteristics of a traditional economy. Things are done in a
traditional way and over years by the same families. But this is now changing in the Cities
which get more and more access to the worldwide market.

I didn’t do KOREA .. i couldn’t focus anymore.... wake me up.. if i’m

sleeping... i will helpppppp 

As we can see from our comparison table Chad’s GDP per Capita vary around 1,600$, which
indicates one of the lowest level of a national wealth.
Chad is a country in a poor condition which is the effect of years of civil war which caused
foreign investors to run away and invest their money in a secure, less risky country.
The economy is based primarily on sedentary subsistence agriculture and nomadic pastoralism,
employing 80% of the workforce.
Chad’s economic performance still depends on fluctuations in rainfall and in prices of its
principal export commodities, especially cotton.
The most important economic venture to date is the Doba Basin oil extraction project in
southern Chad.
The project included unique mechanisms for World Bank, private sector, government, and civil
society collaboration to guarantee that future oil revenues would benefit local populations and
result in poverty alleviation.

The economy of North Korea is an industrialized and centrally planned economy.

North Korea's economy declined sharply in the 1990s with the end of communism in Eastern
Europe, the disintegration of the Soviet Union and the dissolution of bloc-trading with the
countries of the former socialist bloc. Gross national income per capita is estimated to have
fallen by about one-third between 1990 and 2002. The economy has since stabilized and shown
some modest growth in recent years, which may be reflective of increased inter-Korean
economic cooperation. Output and living standards, however, remain far below 1990 levels.
Other centrally-planned economies in similar situations opted for domestic economic reform
and liberalization of trade and investment. North Korea formalized some modest wage and
price reforms in 2002, and has increasingly tolerated markets and a small private sector as the
state-run distribution system has deteriorated. An increasing number of North Koreans now
try to work in the informal sector to cope with growing hardship and reduced government
support. The regime, however, seems determined to maintain control. In October 2005,
emboldened by an improved harvest and increased food donations from South Korea, the
North Korean Government banned private grain sales and announced a return to centralized
food rationing. Reports indicate this effort to reassert state control and to control inflation has
been largely ineffective. Another factor contributing to the economy's poor performance is the
disproportionately large share of GDP (thought to be about one-fourth) that North Korea
devotes to its military.

In December 2009, North Korea redenominated its currency at a rate of 100 to 1. New laws
were implemented, including regulations on consumption, tightened state control of the market,
and a ban on the possession or use of foreign currencies. The redenomination appears to have
resulted in increased inflation and confiscation of wealth earned by private traders and others
working outside state-controlled sectors of the economy.

North Korean industry is operating at only a small fraction of capacity due to lack of fuel, spare
parts, and other inputs. Agriculture and fisheries were 21.6% of GDP as of 2008, although
agricultural output has not recovered to early 1990 levels. The infrastructure is generally poor
and outdated, and the energy sector has collapsed. About 80% of North Korea's terrain consists
of moderately high mountain ranges and partially forested mountains and hills separated by
deep, narrow valleys and small, cultivated plains. The most rugged areas are the north and east
coasts. Good harbors are found on the eastern coast. Pyongyang, the capital, near the country's
west coast, is located on the Taedong River.

And finally United States of America which present free market economy which is the largest
national economy in the world.
Its nominal gross domestic product was estimated at $14.2 trillion in 2009, and GDP per capita
estimates around $48,100 in 2008 which shows us the condition of this market how it’s
maintaining a very high level of output per person. This free market called more often
consumer market present all most all ingicators on the high levels. How ever this almost perfect
market which is driven by consumers and their willing lately is troubled by high debt levels.
As we can see in a table adverse balance of Industrial Production Growth Rate estimating at
-5,5% in 2009 is a result of slowdown in the US economy cause by the recent failure of housing
and credit markets 2007 GDP growth was estimated at 2.2% but in 2008 it is projected to be
just 0.9%, down from the 10-year average of 2.8%