Ha-Ha Land's economic system has the following characteristics: i) households could only own the land titles for 50 years. ii) business firms must renew their licenses every second year. iii) the central government remained control on large-scale capital-intensive sectors (e.g infrastructure, manufacturing, agriculture), but strongly encouraged competition in small- scale labour-intensive sectors (e.g tourism). Given all the above, what's the economic system in Ha-Ha Land? А. Market capitalism В. Market socialism C. Pure capitalism D. Pure socialism

Ha-Ha Land's economic system has the following characteristics: i) households could only own the land titles for 50 years. ii) business firms must renew their licenses every second year. iii) the central government remained control on large-scale capital-intensive sectors (e.g infrastructure, manufacturing, agriculture), but strongly encouraged competition in small- scale labour-intensive sectors (e.g tourism). Given all the above, what's the economic system in Ha-Ha Land? А. Market capitalism В. Market socialism C. Pure capitalism D. Pure socialism

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 10P

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