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
Mongolia has a mixed government
They are really rich and they have $9.8 billion dollars.
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.
Mongolia is the richest in natural resources. In the last 10 years the country's economy is booming due to mining in copper, gold, uranium, coal etc. Animal husbandry and cashmere industry is big there, too.
Opposite of Market Economy
It has a market economy. BUT IT WAS a command economy
Magnolia is a type of flower, but Mongolia is a country in Asia.