There are four types of economy: managed, market, mixed and traditional. A command economy is one in which the government controls the economy. In a market economy, there is minimal government control. A mixed economy is an economy that combines a managed economy and a market economy. A traditional economy is an economic system often used in rural areas. Among these four economic systems, Mr. Robbins should use market economy for his new island, because market economy brings many benefits to a country. First, a market economy pushes companies to make cheaper, higher-quality products so that more people buy the product that's right for them. is currently in production. The more options there are on the market, the more competition there is. This results in higher profits for businesses and businesses. When companies make more profits, they can expand and produce new products. If the company can produce new and better products, it will generate even more profits for the companies. In a market economy, businesses need profits to survive and stay in business. No profit means no money, which ultimately leads to the bankruptcy of the business or company. Ultimately, the high profits of a market economy benefit the company and motivate it to expand its business. Secondly, the market economy brings many benefits to people, because they are the ones who make decisions in the market economy. One of the benefits that the market economy brings to the population is the production of better quality products at lower costs. For example, when Apple creates a new product, other companies such as Samsung or LG also come out with new products, which creates competition. Every company wants people to just buy their products, in order to improve their products and lower prices. As a result of the competitions, people......middle of paper......and the economy is not the main cause of pollution, it is the factories. Finally, the market economy brings more advantages than disadvantages. In conclusion, a market economy would be a better system for Mr. Robbins to use on his island because it would benefit businesses and people. The market economy would provide the population with cheaper and better quality goods through competition. Competitions can also motivate people to work harder, because if they don't work harder, they will lose their job. This economic system will also give people great economic freedom. With a high degree of economic freedom, the incomes of the poor would increase and there would be economic growth. In summary, market economy would be overall a better way to run a country because this system can build an efficient economy that brings many benefits to entrepreneurs and consumers..