What type of economy does Mongolia have?

Answer 1

Farming and pastoralism (keeping herds of animals) have traditionally been important parts of Mongolia's economy. Mining of coal, tin, copper, and other materials has contributed to the economy in recent decades.

Answer 2

Mongolia is a mixed economy. Coming from a Communist government, there is a still a degree of public ownership of corporations, but there was a large wave of privatization after the fall Communism in 1990. However, regardless of the ostensibly free-market economy, the majority of Mongolia's people live in rural areas and engage in more traditional forms of economy like barter more often than credit-based transactions which define the modern free market.

Answer 3

Semi-Presidential Republic

Semi-Presidential is in wich a prime minister and a president are both active participants in the day-to-day administration of the state

Answer 4

Type of economic system of Mongolia is market economy.

Answer 5

Capitalist.