What kind of economy does both countries have?
A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.
What are the 3 resources?
Classical economics recognizes three categories of resources, also referred to as factors of production: land, labor, and capital.
What are the economic systems of Germany and Russia?
Explain that countries have a mixed economic system located on a continuum between pure market and pure command. c. Compare the basic types of economic systems found in the United Kingdom, Germany, and Russia. © Brain Wrinkles • Do you remember the three questions that every country must answer when developing its economic plan?
What do the United Kingdom, Germany and Russia have in common?
They are all mixed economies, is what the economies of the United Kingdom, Germany, and Russia have in common. Log in for more information. Search for an answer or ask Weegy. Which of the following characteristics do the economies of the United Kingdom, Germany, and Russia have in common? A. They are the world s three leading economies. B.
What kind of economy does the UK have?
• The United Kingdom has a Mixed economic system. • It’s actually closer to a Market economy than any other European country. • UK is economically strong; it’s one of the world’s leading industrial powers. © Brain Wrinkles
What did the Soviet Union have in common?
The Soviet Union collapsed & a democratic government replaced communism. This new government used a mixed economic system instead of command. What do the economic systems of United Kingdom, Germany, & Russia all have in common? Mixed, but close to market Define foreign exchange Foreign currency