Answer:
The answer is written below…
Step-by-step explanation:
Economic freedom can be assessed using various indices, and countries are often categorized into different degrees based on their level of economic freedom. In descending order, the four degrees of economic freedom are typically categorized as follows:
1. **Free Market Economies:**
- These countries have a high degree of economic freedom, characterized by strong protection of property rights, minimal government intervention, and a well-established rule of law. Examples include countries like Singapore, Hong Kong, and Switzerland.
2. **Mostly Free Economies:**
- This category includes countries with a substantial level of economic freedom but with some degree of government intervention. While property rights are generally protected, there may be more regulations compared to free-market economies. Examples include the United States, Canada, and Australia.
3. **Moderately Free Economies:**
- These countries have a moderate level of economic freedom but with significant government intervention in various sectors. Property rights might be somewhat protected, but regulations and restrictions are more prevalent. Examples include Brazil, India, and South Africa.
4. **Mostly Unfree or Repressed Economies:**
- This category includes countries with low economic freedom, characterized by heavy government intervention, limited property rights, and extensive regulations. These economies often struggle with issues like corruption and lack of rule of law. Examples include North Korea, Cuba, and Venezuela.
These classifications are often based on indices such as the Heritage Foundation's Index of Economic Freedom or the Fraser Institute's Economic Freedom of the World Index. Keep in mind that these rankings can change over time as countries undergo economic and policy changes.