Advantages:
The economic system that my government uses is the G- system. This system is a system that is run by the buyers. They decide what will be made in my system through their purchases of some products as opposed to others. Producers use their own resources to make what ever consumers are willing to purchase. The Government keeps tabs on the items in highest demand and makes sure that they are the most sold and in highest supply so the economy continues to boom.

Disadvantages:
While people are free to produce what ever they are capable of producing but in the event of financial loss if a product is not successful the government will not compensate them for their losses. There is a competition problem, when businesses compete one may try to control the economy, thus creating a monopoly, or businesses could attempt to produce more of a product and let quality and safety go by the wayside.

What will be produced?
Consumers will decide what will be produced through their purchases in the market. When consumers feel that prices are worth paying they will purchase the goods and services that they are in need of and can afford. The products that have the greatest prophet will hold more sway over the economy and those who do not yield prophet will drop out of the market to give way for the competition.
  
How will it be produced?
The producers choose their own production methods which allow them to offer products at reasonable prices. Completion is a driving force behind price as well as production, manufacturers attempt to make the most goods at the lowest prices to gain the most prophet.

Who will receive products?

These products will be manufactured by anyone who is able to manufacture and meet the demand of the consumers. In this economy people are free to buy what ever they can afford, it’s up to the individual. Advantages of this system include extensive use of free will for the consumer; however a downside of this free will resides in the fact that people who create a new product run the risk of financial harm if their idea does not go over well. The government will not help new business unless it is vitally important which not the best thing is for the common inventor.
The two goals of the G-system are to keep supply consumers with the needed products and to ensure that people have a plethora of jobs in producing and selling these goods to ensure that the economy does not fall into ruin. The G-system of economy does not have any lofty goals, the system aims for simplicity.
Our system is located in G-Land known for its vast expanses of fertile land; this fertile land will come in handy in producing crops. We also have tract of land that (while not so fertile) will help our economy by being space for the government to set up bases of production, and sale of goods. G-Land is filled with diligent hard working natives who are glad to make their countries economy stable for their daily wage. These hard, well paid workers will be the laborers working to create and sell the goods in demand from the citizens of G-Land. The people of G-Land are also cunning which makes them crafty and able to think, advance or create marketing opportunities for themselves and others, they are truly ground breaking entrepreneurs.
In the G-system could fit into monopolistic competitive market structure because there many producers and sellers of corn. There are many different types of corn, the most expensive and popular of which is blue corn. But because blue corn in so expensive there are other sellers of corn; Sweet corn, dent corn, field corn and flint corn. While these other corns are not nearly as good as blue corn everyone has to eat and there is a market for every kind of corn that can be grown. There is heavy competition between the different sellers of corn, all claiming that there’s is the best corn available, and this creates competition among the sellers of corn. The G system of economy can fit easily into the monopolistic competitive market structure because of the competition over similar products.
The G-system could fit into a perfectly competitive market structure because of the clothing that many different marketers sell. Because the G-Landers are known for being very relaxed about their attire clothing mostly consists of light material made of dark colors in similar styles. There are many sellers of this clothing, the clothing look very similar and prices while still being competitive are not nearly as competitive as the prices in the corn market. There are many consumers willing and able to buy the clothes, clothing stores are easily located and there are many of them. The market for clothing in the G-system fits into a perfectly competitive market structure.
Elasticity would affect the supply of corn if tomatoes suddenly became the favorite food of G-Land. With the demand for tomatoes on the rise the demand for corn will (of course) rapidly decrease. With little demand for corn, the farmers who dedicated so much time to harvesting and selling corn will be deprived of their lively hood.
But if the demand for corn only fluctuates slightly then there won’t be as terrible a shift people will still have a demand for corn, and tomatoes and equilibrium will be restored and no one will be out of a job and running around screaming for dear life. The demand for food is always present so the food distributing companies will always be present although the demand for their products will fluctuate, their products are only semi-elastic. If the demand in corn suddenly plummeted because of the popularity of tomatos likewise there would be a surplus of corn because very few people are buying it. Tomatoes with all the allure are by far the most popular food now and with corn not being as popular as it once was demand has shifted
Tomatoes are increasing in popularity, it’s tomato mania, every one wants tomatoes but farmers  fail to properly rotate the soil because tomatoes are in such high demand that they want to ride the popularity wave and make as much money as possible. As such with the soil not being properly cared for the tomatoes are suddenly struck with blight. This puts the tomato farmers in a pickle, they want to keep supplying tomatoes to the eager customer but the weak soil is no longer able to sustain healthy tomatoes. Farmers are only able to produce half the tomatoes they were originally capable of producing. They’re stuck with half the prophet from half the tomatoes, but life goes on and that’s the system.