Indonesia has a mixed economy, characterized by a combination of large private conglomerates and state-owned enterprises. It is part of the CIVETS group of countries, along with Columbia, Vietnam, Egypt, Turkey and South Africa, which is expected to account for half of all economic activity by 2020.Know More
With a population of nearly one-quarter billion people, Indonesia has the largest economy in Southeast Asia and is a member of the G-20, a forum of the world's 20 largest economies. Its strengths are its plentiful and diverse natural resources, young and large population, relative political stability, sound fiscal management, proximity to the burgeoning economies of China and India, and low labor costs.
The industrial sector is the country's largest in terms of output, followed by the service and agricultural sectors. Since 2012, the service sector has been the country's largest employer, overtaking the agricultural sector, which had been the country's employment leader for centuries. Tourism is also a major industry, with Singapore, Malaysia, Australia, China and Japan providing the largest portion of visitors.
Indonesia's major export markets are Japan, Singapore, the United States and China. Its major exports include oil, natural gas, tin, copper, plywood, rubber and gold. It imports most from Singapore, Japan and China. Major imports are machinery, chemicals, fuels and foodstuffs.Learn more about Economics
Mortgage-backed securities possess a unique potential for doing widespread harm due to a combination of their highly speculative nature and their ubiquitous presence throughout the financial marketplace. According to HowStuffWorks, mortgage-backed securities are the underlying commodity that backs a large number of exotic derivatives and other financial instruments that together have the potential to bring down multiple systems when the underlying commodity falters.Full Answer >
Argentina has a free-market economy heavily based on agriculture and agricultural exports. The country also has growing industrial and service sectors. The quality of life and GDP per capita are relatively high, especially when compared to other countries in Latin America.Full Answer >
The economy, as a system of resource use and distribution, is important because resources are finite. Understanding the economy is crucial to political awareness and becoming an informed citizen.Full Answer >
A closed economy refers to an economic system which does not have business relations with any economies outside its own system. Closed economies employ barriers to the trade of goods and services, monies and intellectual property to and from their economic system.Full Answer >