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India vs Canada

In: Business and Management

Submitted By ismatj
Words 1021
Pages 5
Canada economic system is also referred to mixed economy because it involves both private and public ownership of resources, and good and services are produced and provided by both the government and privately owned companies.

Canada’s system is often referred to a capitalist system because we allow and also encourage the private ownership of capital, that is, the plants, factories, equipment, and so forth that are used to produce and provide goods and services.

India has a Mixed Market economy meaning it uses a variety of government regulation to control the economy, but relies primarily on market that forces to set prices and demand and uses general principles of capitalism.

India is having a mixed economic structure. It is neither fully capitalist nor fully socialistic. It is neither completely an open system nor a fully free market system. The key variables in the choice of this economic design are: people's welfare, equitable distribution of wealth and income, a logical link between employment and incomes, restraining monopolies and concentration of power and wealth, and supporting health and education sectors through government subsidies and political strength.

India has a mixed economy. Half of India's workers rely on agriculture, the signature of a traditional economy. One third of its workers are employed by the services industry, which contributes two-thirds of India's output. The productivity of this segment is made possible by India's increasing move toward a market economy. Since the 1990s, India has deregulated several industries, privatized many state-owned enterprises, and opened doors to Foreign direct investment.

If you thought global heavy weights like China or the US would be India’s biggest trading partners, think again.
Recently released country wise numbers for 2012-13 reveal that India is now trading most with the United…...

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