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1. 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 1

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1. 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

1

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Tax issues

2

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