Japan was modernized by many countries. In the day of the samurai japanese citizens hated foreigners so therfore no country could trade with Japan which would be an amazing economical achievement. Then, along came Mao zedong a very important historical figure, who allowed countries to trade in replace of something. eg. Great Britain wanted to trade with Japan so in order to do that G.B. had to build Japan a modernized navy. So therefore they let other countries do their work and modernized and therefore there economy grew! They used this method from before ww2 around 1938 until the early 70's.
Economic philosophies such as capitalism and communism have been developed.
Economic philosophies such as capitalism and communism have been developed.
Hung-po Chao has written: 'Economies with exhaustible resources' -- subject(s): Economic policy, Mathematical models, Natural resources
Distribution in political economies refers to how resources, wealth, and opportunities are allocated among individuals and groups in society. This can be influenced by various factors such as government policies, market forces, and social structures. Manifestations of distribution can be seen in income inequality, access to public services, and disparities in economic outcomes among different segments of the population. Political decisions and power dynamics play a significant role in shaping how distribution is structured within a society.
Why economic growth is desirable for modern open economies
All of them have capitalistic economies; Australia and Canada are developed, industrialized economies while Mexico and Brazil are still in process of industrialization, commonly known as "emerging markets".
In market-based economies, markets determine prices which will answer the three economic questions
That is the correct spelling of the plural noun "economies" (economic systems)
Dual economies are common in less developed countries, where one sector is geared to local needs and another to the global export market.
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
high living standard Increased socio economic welfare wider market utilisation of world resources economies of scale reduced risks
MEDC = Most Economically Developed Country LEDC = Least Economically Developed Country These are the two extremes of the scale of economic prosperity of a country. Countries are classified as MEDC (developed, modern) and LEDC (developing, poor, or failed economies).