Because the government does not make sure that everyone is employed, competition between people wanting to have a job increases, businesses can choose the most fit candidate. This means that more people will have a need for better education, which in turn increases economic development as there are more educated people in the country.

If there are more educated people in the market and they can specialize in a field that they choose, they will be more motivated to do their job, causing the efficiency and productivity to go up. Due to there being a free market, people will try to be as good as possible at their job, in order to get more money, which increases their standard of living.

Free Market has no limit on the potential of individual while planned economy sets all the regulations and limits. For instance, one can be good at painting instead of the job that government had assigned for one. This can lead to the under utilisation of the labour as the government is setting a limit on individual's labour potential. Whereas planned economy limits individual's potential, free market is freely opened to everyone. One can start a business on the area that one can do best. As people earn more money from their specialised area, they can spend more which will lead to the economic development.

In a free economy, each business is specialised, therefore the products produced are better choices for the people, and the businesses earn more money based on the quality of their products.

In a planned economy there is a lack of competition which results a lack of efficiency.

people get to choose jobs --> More efficiency --> more money to efficient worker --> more money to spend --> better standard of life.

Costumers make the decision to what products should be created based on their necessities and their wants. This improves development as they are able to buy any items they feel necessary and their standard of living improves as they have the choice to what they need

the market responds to people's choices quickly and there is a range of products or services to choose from.

A planned economy, while it may seem fruitful, is actually a hoax. It provides no freedom of choice to its people and kills their motivation. Free market or mixed economies provide their people with the opportunity to succeed and be successful. They create more motivation within people and private industries to work efficiently to get ahead of their competition. This leads to the specialization of certain goods and services in the economy. Also, through a mixed economy, a government can benefit from taxing de-merit goods and control the usage of these goods to its citizens. All of this creates an economic growth through of the increase in revenue from de-merit goods, the motivation of businesses to perform to expectations and the opportunity of people to work harder and succeed.

Free/Mixed economies make it so that private citizens are more informed of the wants of other citizens, thus, can better serve to their needs with goods. Benefits to all parties come from this point. Private producer gains cash (Raises purchasing power that can be reinvested), consumer derives enjoyment from good.

A mixed economy is more appropriate for economic development because people have more of a variety of products when choosing to satisfy their wants and needs. An example of this could be education, therefore people can choose the education they want to receive and what they can afford. Another is the quality of health care. Therefore by being able to make these choices people do what is best for them. Overall increasing the living standard, thereby increasing the HDI of a country.

Since everyone is guaranteed employment and paid the same, there is no incentive to work which retards economic development.

A free-market economy is the optimal system for economic development as it promotes the idea of a competitive market where various producers compete to supply the best version of a good or service. This increases productivity as firms are obliged to function at full capacity to exist in the market.

Due to everyone receiving equal wages, it may cause workers to be demotivated as they feel they aren't being rewarded for their extra efforts. Also, although merit goods are provided, there may still be an under consumption due to information failure. Another issue is that the regulation of demerit goods may lead to an increase in criminal activity as demerit goods will be sold on the black market for much cheaper. Another issue with the taxation of demerit goods is that there may still be an over consumption as most demerit goods are addicting and therefore consumers may still purchase it.

In a free/mixed market there is a competitive price system governed by the concept of the "invisible hand" that causes goods to be produced cost-efficiently, whereas in a planned economy, there is no definite price system in place causing goods to be sold at higher prices with no real regard to efficiency.

The prices of goods and services in a free/mixed economy are determined by a free price system and vary based on the consumers demands which are supplied by each individual private organisation.

I would say having a free market economy is better for economic development. A planned economy seems great for the population as a whole but it really isn't. North Korea is a planned economy and people over there have no free will. All the resources are misallocated to the people (as in different, imbalanced levels of investment in various sectors).

In a free market economy, businesses are driven by individual hard work and ingenuity and their purpose is to make profit; because of this, the employees have a larger incentive to work which will in turn increase the company's efficiency thereby allowing them to decrease costs. The concept of competition is what makes free market economies more optimal in comparison to planned economies as competition drives companies to provide their best possible product/service in the marketplace. This allows the consumers to have a large range of choices as well as increased quality.

Free markets promote growth and sustain the advantages of a capitalist economy. The majority of profitable industries and businesses are left to private companies, which means that they are fueled by competition. Competition creates a variety of beneficial factors including lower prices for goods and services, increased quality of products, a wider range of choice, higher innovation and greater efficiency. All of these factors are favorable towards the economy.

A planned economy doesn't allow for the existence of private property whereas a market economy promotes the concept. For instance a multinational corporation such as Walmart is the ideal example of how private property can only lead to economic progress as the company provides millions of jobs across North America.

People in a free market have the freedom to choose their own job, therefore having an increase in their productivity and motivation. There is more room for innovation and development as companies come up with new product plans in order to win the competition, while customers are able to buy cheaper and higher quality goods. As customers choose between many goods, the one with a better quality and/or price survives, which filters out companies that doesn't meet the customers' needs.

Due to some people having a greater amount of resources, since they have been successful in the competition in the free market, they are able to spend more money to raise their standard of living, which gives more people money, as the buying of luxury and unnecessary goods leads to more employed people who can spend money on raising their standard of life, which will lead to the country becoming more developed.

Free/mixed economy responds quickly to people's wants, whereas in a planned economy, the government supplies wants based on what's best beneficial to the government

The biggest advantage for a free market economy is that companies are able to quickly shift their production depending upon the demand in the market as they are only focusing on their specialized sector of the market whereas in a planned economy this would be difficult to do as the government is controlling all the sectors. This is why there is often over production of goods that are not demanded by the consumers.

In a free market, there is more of a freedom to create a business of job for oneself. The government can create limited restriction on people's private lives which is preferred by many people.

A free/mixed economy betters the life of the people in the sense that they are able to purchase better goods if they can afford it. This includes better education, healthcare at an instant, healthier foods, as well as other wants. At the same time, competition between companies should keep prices at a low for consumers, and provide constant innovation. Taxes meanwhile, in a mixed, should help get people of the ground through social programs. Taxes also allow for the provision of roads and other services often run by the government. Although everyone may not be employed and some would be too poor to afford some services, people have all the opportunities to provide a better life for themselves IF they wish in a free/mixed economy compared to a planned economy.

Free/Mixed Economies introduce many new markets at a faster rate as a result of supplying various needs. Often times new markets means more growth as seen in the cases of creating the stock market. Even in cases that seem trivial like selfie sticks etc. New markets means more goods produces, which requires more labor, which requires wage, which increases purchasing power.

With a non- fixed economy, the government if free to do what they please to do and gives them the freedom of choice rather than getting stuck in a plan that might not happen. Firstly, because, we have no idea how the country is gonna be like in the future.. so with a planned economy, we might not exactly follow it since we do not know how the future will be like

Only the "COMMUNISTS" of this country would believe in a "PLANNED ECONOMY" ! Because you commies don't believe in capitalism nor the free market.