Discuss the extent to which a country moving from a centrally planned economy to a more market driven economy is in the interest of both consumers and producers

Discuss the extent to which a country moving from a centrally planned economy to a more market driven economy is in the interest of both consumers and producers Order Description Students should be able to: - Distinguish between the three types of economic systems: Free market system, Command economies and Mixed economies - Discuss the advantages and disadvantages of each of the economic systems. You must provide: - Specific examples of countries that have transited from centrally planned economy to a more market driven economy. Structure: Part 1 - Define key terms (3 market systems) Part 2 - Advantages of free market system (3 points plus examples of countries) Part 3 - Disadvantages of free market/ Advantages of command economy (3 points plus examples of countries) Part 4 - Conclusion You must: - Reference your work including websites/journals/textbooks of work used (this does not count towards 1000 word limit)