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 Economy Uses A Free Enterprise System? What economy uses a free enterprise system? The U.S. economy is a free enterprise system. That means that individuals — and not the government — own most of our country’s resources. Free enterprise also means that supply and demand determine how our resources are used. What is an