What Economic System Grew As A Result Of Exploration? What economic system grew as a result of exploration? Exploration and trade contributed to the growth of capitalism. This economic system is based on investing money for profit. Merchants gained great wealth by trading and selling goods from around the world. Many of them used their
What Economic System Does Nigeria Have? What economic system does Nigeria have? Nigeria has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Is Nigerian economy a globalized economy? Globalization allows Nigeria to export and import goods, capital and investment without restriction. Globalization promotes the
What Economic System Does Macedonia Have? What economic system does Macedonia have? gross domestic product (GDP Why Macedonia is so poor? Political and ethnic tensions are contributing factors to the widespread poverty. Suspected government corruption in elections and ongoing prejudice between the Albanian and Macedonian populations prevent the stability necessary for economic improvement. What is
What Economy Was Based On Manufacturing? What economy was based on manufacturing? Industrialization is a transformation away from an agricultural- or resource-based economy, toward an economy based on mass manufacturing. What is Western economy? Western economics is the name given by Chinese scholars to the economic theories that have emerged and prevailed in developed western
What Economy Would Most Need The Least Amount Of Government Involvement? What economy would most need the least amount of government involvement? In a free-market economic system, manufacturing and production are based on the powers of supply and demand with little or no government intervention. Examples of command economies today include North Korea, Iran, Libya,
What Economic System Has The Least Opportunity For Change? What economic system has the least opportunity for change? The laissez-faire market system has the least government control. Laissez-faire is also known as classical economics or market economics and limits… What are the disadvantages of free market economy? One disadvantage of a free market economy is
What Economic System Emerged During The Early Years Of The Industrial Revolution? What economic system emerged during the early years of the industrial revolution? The Industrial Revolution led to a rise in capitalism where means of production, such as factories, shops and farms, are privately owned and are used to make profit. What was the
What Economic System Is Most Associated With A Market Economy? What economic system is most associated with a market economy? Market economies are closely associated with capitalism. Individuals and businesses own the resources and are free to exchange and contract with each other without permission from government authorities. The collective term for these uncoordinated exchanges
What Effect Does The Lack Of Competition In Command Economies Have? What effect does the lack of competition in command economies have? Critics argue that the inherent lack of competition in command economies hinders innovation and keeps prices from resting at an optimal level for consumers. Why is there no competition in a command economy?
Did East Or West Germany Have A Better Economy? Did East or West Germany have a better economy? Per-capita gross domestic product was €32,108 in the former East German states in 2018, compared with €42,971 in the former West German states. Productivity in the East, in other words, was 75% of productivity in the West