Answered: Businesses in Finland sell a wide…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Businesses in Finland sell a wide variety of products with manufacturing, woods, telecommunications, metals, engineering, and electronics being the primary exports. Businesses are free to sell any legal product they want in any manner they desire as long as it does not violate any laws or ordinances. The nation has a very liberal welfare policy with most citizens, even at an early age, receiving monthly pension checks from the government. What type of economic system is employed in Finland?

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Step 1

A capitalist economy and an unrestricted/free market economy are two sorts of monetary frameworks. Frequently the terms are utilized conversely, particularly in relaxed speech. Be that as it may, while they have covering characteristics, the two are not exactly the same thing.

capitalist and unrestricted/free market economy frameworks really do spring from a similar monetary soil, as it were: the law of market interest, which turns into the premise to decide the cost and creation of labor and products.

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