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What country is economy dominated by petroleum and has the largest oil reserve in the western hemisphere?

Venezuela has an economy that is dominated by petroleum and possesses the largest oil reserves in the Western Hemisphere. The country's heavy reliance on oil exports has significantly influenced its economic structure and development. Despite its vast reserves, Venezuela has faced numerous economic challenges, including mismanagement and political instability, impacting its oil production capacity.


What religion led to capitalism?

The word 'capitalism' was coined about 1880 by Karl Marx to describe the way businesses were financed in the west, in contrast to his preferred system of socialism. These are economic and governmental distinctions, not religions. The economic value of his arguments is exposed by the fact that socialism was always financed by gifts from western banks, and when the gifts dwindled the regime collapsed.


What is the best term to describe the postwar Western economic model?

For individual nations: welfare capitalism (for states); multi-national corporation (for business). For the West as a whole: the Bretton Woods system.


What is the increased spread of international ties and spread of Western capitalism worldwide is?

Globalization


What led to modern capitalism?

The word 'capitalism' was coined about 1880 by Karl Marx to describe the way businesses were financed in the west, in contrast to his preferred system of socialism. These are economic and governmental distinctions, not religions. The economic value of his arguments is exposed by the fact that socialism was always financed by gifts from western banks, and when the gifts dwindled the regime collapsed.

Related Questions

What did the the Commercial Revolution in western Europe lead to?

economic fervor


Who or what western power dominated Belgian Congo?

BELGIUM was the Western power that dominated The BELGIAN Congo.


Why was the communist system created by Lenin and Stalin seen as a rejection of Western capitalism?

Communism is an economic system almost the opposite of capitalism. Capitalism is the ownership of property and the means of production and wealth is in the hands of private entities. Communism is ownership of property and the means of production by the government and wealth shared with all.


What country is economy dominated by petroleum and has the largest oil reserve in the western hemisphere?

Venezuela has an economy that is dominated by petroleum and possesses the largest oil reserves in the Western Hemisphere. The country's heavy reliance on oil exports has significantly influenced its economic structure and development. Despite its vast reserves, Venezuela has faced numerous economic challenges, including mismanagement and political instability, impacting its oil production capacity.


What western power dominated your country?

europe


Who-what western power dominated Namibia?

None


What religion led to capitalism?

The word 'capitalism' was coined about 1880 by Karl Marx to describe the way businesses were financed in the west, in contrast to his preferred system of socialism. These are economic and governmental distinctions, not religions. The economic value of his arguments is exposed by the fact that socialism was always financed by gifts from western banks, and when the gifts dwindled the regime collapsed.


Why did the terroists atack The World Trade Center?

the presumed reason was that some islamist terrorists believed opposite to western capitalism and the world trade center to them was western capitalism


What is the best term to describe the postwar Western economic model?

For individual nations: welfare capitalism (for states); multi-national corporation (for business). For the West as a whole: the Bretton Woods system.


The philosophy that western capitalism was the enemy of mankind was started by?

Marx


What countries dominated western Europe after world war 2?

No countries dominated Western Europe after WW2 as all Nazi-occupied countries were freed and become independent once more.


Who dominated the telegraph industry in late 19th century?

Western Union