it is a command economy da
Mongolia has a mixed government
old:By the Western Standard, Mongolia is considered a third world country. A country with GDP per capita $3000 or less is considered a third world country and Mongolia's is $2000. later: it's 2016 and Mongolia's GDP is now about 10157 USD and economy is on the rise due to mineral based economic development.
Opposite of Market Economy
market economy
it is a command economy da
free-market economy
They are really rich and they have $9.8 billion dollars.
Mongolia has a mixed government
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.
Socialistic
YURT
old:By the Western Standard, Mongolia is considered a third world country. A country with GDP per capita $3000 or less is considered a third world country and Mongolia's is $2000. later: it's 2016 and Mongolia's GDP is now about 10157 USD and economy is on the rise due to mineral based economic development.
It has a market economy. BUT IT WAS a command economy
Opposite of Market Economy
a type of economy that is very sincitiv in a matter of time
market economy