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What type of economy does Venezuela?

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Anonymous

∙ 7y ago
Updated: 9/19/2021

Venezuela has a more communist than capital economy.

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Laury Hermann ∙

Lvl 10
∙ 4y ago
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What type of an economic system is Venezuela?

Venezuela has a more communist than capital economy.


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venezuela's economy relys heavenly on oil


What kind economy does Venezuela?

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Oil is important to Venezuela, because it is most of Venezuela's economy.


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What is Venezuela's economy?

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What does venezuelas economy rely on?

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Venezuela's oil-based economy illustrates the affects of overspecialization. When oil prices are high, its economy is strong. When oil prices drop, its economy weakens.


What is the focus of venezuela's economy?

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Does Venezuela have a traditional command free market or mixed economy?

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Which statement best describes Venezuela's economy?

primary


What does Venezuela's economy depend on?

oil drilling and cattle ranching

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