Discuss the advantages and disadvantages of both free-market and command economi

Discuss the advantages and disadvantages of both free-market and command economic systems regarding the achievement of economic growth. You should use examples of countries in your answer. Use academically approved sources to research the ways that countries in transition, such as China and Russia, are managing any changes in their economies towards a different type of economy, and provide up-to-date economic data to support your findings.
You should also consider the reasons why countries such as China or Russia want to change their economic systems and how such a change is being managed.
Important issues for you to consider when building your argument:
• The definitions and characteristics of free market and command economies – compare and contrast • Economic growth as a major macroeconomic indicator of the performance of an economy
• Major factors influencing economic growth and their behaviour under different economic systems
• Interactions of major economic variables with economic growth under each economic system, such as unemployment, inflation, interest rates and balance of trade.
• Consider the reasons for any country (e.g. China and Russia) to want to change to a different economic system and what steps are being taken to achieve a successful transition.
Introduction: descriiption of issues/problems identified with the topic under discussion.
b. Discussion and Analysis: your analysis and answers to the questions raised in your discussion. These should be put into a coherent argument (you should try to break up this section using a few key subtitles where appropriate).
c. Conclusion: a short summary and your final evaluation that flows from your findings and analysis.
• References and Bibliography (apply the Harvard method of referencing).