There are four types of economy: command, market, mixed and traditional. A planned economy is an economy in which the government controls the economy. In the market economy, state control is minimal. A mixed economy is an economy that blends command and market economies together. A traditional economy is an economic system often used in rural areas. Among these four economic systems, 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 and better quality products so that more people will buy the product that is produced. The more options on the market, the more competition. This translates into higher profits for companies and businesses. When companies make more profits they can expand and make new products. If the company is able to produce new and better products, this will bring even more profits to the companies. In a market economy, companies need profit to survive and remain in the market. No profit means no money which ultimately leads to the company or business going out of business. Ultimately, the high profits from a market economy benefit the company and motivate it to expand its business. Secondly, the market economy brings many benefits to people, because it is the people who make decisions in the market economy. One of the benefits that the market economy offers people is better quality products at a lower price. For example, when Apple makes a new product, other companies like Samsung or LG also launch new products creating competition. Every company wants people to simply buy their products, so they can improve their products and lower their prices. Because of the competitions, people...... middle of paper......et the economy is not the main cause of pollution, the factories are. 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 cheaper and better quality goods to people through competition. Competition can also make people work harder, because if they didn't work harder they would lose their jobs. This economic system will also give people a lot of economic freedom. As a result of a high degree of economic freedom, the income of the poor would increase and there would be economic growth. In summary, the market economy would be an overall better way of running a country, because this system can build an efficient economy that brings many benefits to entrepreneurs and consumers.