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Economies differ from nation to nation and influence the wealth, satisfaction and health of its citizens. For the purposes of this booklet, an economy will be defined as the way a nation answers the three essential economic question that every nation, country and/or society must answer: what to make, how to make it, and who will consume it. There are a range of economies to be considered with command (or planned) economies at one end of the spectrum to free market economies (or capitalism) at the other end of the spectrum. Most nations, as we shall see, have mixed economies.

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