cuba\n1. what is this countrys dominant economic system? (which system do you see the most?)\n2. what is…

cuba\n1. what is this countrys dominant economic system? (which system do you see the most?)\n2. what is this countrys non - dominant economic system? (which system do you see some but minimal aspects of?)\n3. why would you make more money being a taxi driver than a doctor in cuba?\n4. reflection: would you be motivated to become a doctor, lawyer, teacher, etc., if you knew taxi driving would make more money? why or why not?\n\nsingapore\n1. what is this countrys dominant economic system? (which system do you see the most?)\n2. how did singapores government intervene to help the economy grow?\n3. what other countries are highly ranked as the easiest places to do business?\n4. how is singapore similar to the u.s. in terms of wealth inequality?

Answer

Brief Explanations:

Cuba - Dominant Economic System: Cuba has a socialist - planned economy where the state plays a major role in economic planning, production, and distribution.
Cuba - Non - dominant Economic System: There may be some elements of a market economy in the form of small - scale private enterprises like some restaurants and craft shops, but they are limited.
Cuba - Taxi Driver vs Doctor Income: Taxi drivers may earn more due to the ability to earn in convertible currency from tourists, while doctors are paid in the local, less - valuable currency.
Cuba - Career Motivation: One might not be motivated to become a doctor if taxi driving pays more, as financial incentives are a significant factor in career choice. However, some may still choose a profession like doctor for non - financial reasons such as social status, personal fulfillment, and the desire to help others.
Singapore - Dominant Economic System: Singapore has a mixed - market economy with a significant role of the government in guiding economic development while also allowing for private enterprise.
Singapore - Government Intervention: The government has invested in infrastructure, education, and technology, and has implemented policies to attract foreign investment.
Singapore - Easiest Places to Do Business: Other highly ranked countries for ease of doing business include New Zealand, Denmark, and Hong Kong (China), which have favorable regulatory environments, efficient bureaucracy, and good infrastructure.
Singapore - Wealth Inequality Similarity to US: Both Singapore and the US have relatively high levels of income and wealth inequality, with a significant gap between the rich and the poor, although the nature and causes may differ.

Answer:

Cuba's dominant economic system is a socialist - planned economy.
Cuba's non - dominant economic system has some elements of a market economy.
In Cuba, taxi drivers may make more money than doctors because they can earn convertible currency from tourists.
One's motivation to become a doctor, lawyer, or teacher may be affected by the higher income of taxi drivers, but non - financial factors can also play a role.
Singapore's dominant economic system is a mixed - market economy.
Singapore's government has intervened by investing in infrastructure, education, technology, and attracting foreign investment.
Other countries highly ranked as the easiest places to do business include New Zealand, Denmark, and Hong Kong (China).
Singapore is similar to the US in terms of having relatively high levels of wealth inequality.