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Explain how economic system attempt to allocate resources effectively

Describe the Market with Socialist orientation


o Describe the three market types (brief)
Free market (Western countries, Japan, Korea)
Command market (China, North Korea)
Mixed market (Vietnam)
o Issues related to Mixed market like Vietnam
Describe mixed market
Tax rate
Foreign investors
Limited information
Explain the Vietnam scenario: moving from agriculture to industrial country: objective, ,

expectation of being industrial country, current process, compare obj with result
Draw the imaginary PPF (Production Possibility Frontier) when Vietnam becomes an
industrial country (aka. Opportunities cost)
o Industrial manufacturing orientation
o Middle income country
o Other social factors
Suggestions
Distant between high and low income citizen Social issues

(robbery, demonstrations, boycott governmental decisions, etc)


Pollution
Jam
Tax issues