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The economic system in the Bahamas is a market economy. Tourism is a major part of the Bahamas economy.
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What is the advantages of tourim in the Bahamas
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Tourism provides 50% of the Bahamas industry.
The Bahamian economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings. So the Bahamas has a market economy in general terms.
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money and jobs
The advantages of collectivism is that it encourages unity and brings people together. People also learn to be their brothers keeper.
advantages:
traditional economic system command economic system market economic system
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