Escolar Documentos
Profissional Documentos
Cultura Documentos
Individual Assignment
Draft 1
Purpose:
The given title
How Does Different economic systems contribute towards the welfare and wealth of a
country? Describe one economic systems of a particular country and compare it with another
economic system of another country.
From the title above, I have understood that I must write an assignment of not more than 2000
words which include:
1. The background study of the first nation economic system and the second nations
economic system.
2. To compare both nations welfare and wealth
3. To define how the economic system of both countries work.
4. To evaluate which economic system is consider bring a greater welfare and wealth for the
people.
5. Finally, to conclude which countrys economic system is the most suitable to apply.
Proposal:
Outline
Words approximation
Introduction
300-400 words
200-250 words
200-250 words
180-200 words
180-200 words
180-200 words
180-200 words
350-400 words
Introduction draft
Introduction
Today, majority nations apply either the free-market system or
the mixed-market system. The planned economic system
nations are now the minority, since, the fall of the Soviet Union
(USSR) in 1989. Toward the end of 20th century, politically and
economically, nation by nation are shifting their economic
system toward the free-market system or the mixed-market
system. The planned economic system is now applied by
minority nations such as Laos, Cuba and North Korea. The
planned economic nations such as Vietnam and China are
relaxing their economy freedom and applied the mixed
economic system which brings them a greater economy boast.
In short, free-market system or the mixed-market system brings
greater contributions towards the welfare and wealth to a
country, while, the planned economic system only bring limited
contributions towards the welfare and wealth to a country.
For this reason, using the Republic of Korea (ROK) also known
as the South Korea as an example to compare with the
Democratic Republic of Korea (DPRK) also known as the
North Korea will be suitable to compare because the South
Korea (ROK) applies the free-market economy system,
currently, it is considered one of the top Gross Domestic
Product (GDP) achiever in term of nominal nations, while on
the other hand, the ROKs counterpart the North Korea (DPRK)
is known as one of the world last nation which currently still
practicing the planned economic system.
Besides that, it is easier to compare because it involves only one
race and culture (The Korean People) which was divided into
two nations which practiced two different economic systems.
Both the Korean nations developed their economy system
differently since the gain of the Korean Independence at the end
of world war two, and, by the end of Korea War. Also, both
nations directly and indirectly attempt to boast their economy
by proving the function of the economic system.
Therefore, both the ROK and the DPRK will be the most
relevant examples to study and compare the contribution of the
Lecturers comment