2006-07-05 18:46:28 · 4 answers · asked by ani iyer 1 in Social Science ➔ Economics
. decide by share market & life style
2006-07-05 18:55:11 · answer #1 · answered by john 2 · 0⤊ 0⤋
No one just decide the economy. It evolves after a certain type of policies are adapted by the ruling class. For that the ruling class has to look the sucessful models around the world.
For long time Russia and China were propagating communism and the people in those countries also were beliving they are the top country.
Russian sysytem collapsed due to its own stupidity. chinese were smarter so they changed gardually without mentioning it to a capitalist economy.
Now they are better off. You need institutional changes to improve the economy. As in any game losers always blame others for their failure. That is why all the losers like North Korea, Burma nd all blame USA.
2006-07-06 01:58:23 · answer #2 · answered by Rammohan 4 · 0⤊ 0⤋
You mean as to what type of economy it is?
Look at how prices are decided and quantities are allocated. The more control is exercised, the less of a free market the economy is.
2006-07-06 10:04:43 · answer #3 · answered by Veritatum17 6 · 0⤊ 0⤋
Accorind to the per capita income of that country
2006-07-06 06:38:45 · answer #4 · answered by naura 2 · 0⤊ 0⤋