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Government/Economics Section 4 Mr.Lynch
Terms in this set (14)
Countries that have relatively little industry, people are mostly peasants and lots of agriculture in the country.
Countries with lots of industry, people are mostly middle class
Certain laws and culture that encourage investment and business locating there.
Example: China has a lot of rural folks but has small pockets of high tech, middle class, and urban lives.
Machines, building, and resources owned by all the people together and managed by the government behalf of all the people.
Free Market Capitalism
Free to start businesses, invest in businesses, charges whatever prices the seller wants, ect....
Government planners tell every factory, farm, and service how much to make and do, and what price to chrage.
People may own small businesses, possibly some small or medium size corporations owned by share holders. But major industries are owned by the people and managed by the Government.
Ever nation has general rules/laws that it follows regarding how its companies trade with other nations.
Taxes on foreign goods
The elimination of tariffs
A set number(Quota) of imports a nations allows
Requiring products to be made or sold a certain way.
Example: US might require better product labeling or better pollution control.
Help the Government gives to companies or farmers who export goods to foreign countries.
A type of negative difference.
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