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
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 10P
Related questions
Question
![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
С.
Pure capitalism
D.
Pure socialism](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc8302cae-b100-48c6-8b55-63738f46d9ef%2F998264b1-7f57-4021-babb-c4df7395e815%2Fjgym8c_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
С.
Pure capitalism
D.
Pure socialism
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