Economywatch.com describes Brazil's economy as a free market that is "organized along capitalist lines." Beginning in 2006, Brazil's economy became the largest in South America and ninth largest in the world as measured by purchasing power parity (PPP).Know More
Manufacturing, particularly cars, aircraft, petrochemicals and construction, has historically been a key industry that helped to spur economic growth and accounted for almost three-quarters of the country's exports. Other key industries included textiles, food and beverage and consumer durables, and mining is also critical to the economy. The country also moved into the energy sector in an effort to reduce its dependence on imported oil. After severe bouts of inflation in the 1980s, President Cardoso attempted to revamp the economy, shifting more emphasis on foreign investment and private enterprise while public spending focused more on health, education and other public services.
The economy seemed to blossom fully in 2010 as the middle classes expanded significantly, and Cardoso's dream of foreign investment came true. Unfortunately, the growth did not appear sustainable as the government was unprepared to support the needs of the ever-growing middle class, and foreign investment leveled off.Learn more about Economics
As of February 2015, the economic system of modern Egypt is based on free market capitalism. It is an important trading partner for many European and Middle Eastern countries.Full Answer >
Countries with a mixed economy include Iceland, Sweden, France, the United Kingdom, the United States, Russia and China. These countries have a mix of government spending and free-market systems based on the share of government spending as a percentage of gross domestic product. Some governments spend much more money in proportion to GDP, while others spend much less.Full Answer >
The United States has a market-oriented, or mixed, economy, which means that businesses and private individuals make most of their own decisions. The state and federal government buy needed services and goods in the private marketplace.Full Answer >
Basic functions of an economic system are to produce and consume goods and services. The way in which people within the economy do this varies based on the type of economic system.Full Answer >