Understanding Business with Connect Access Card
Understanding Business with Connect Access Card
12th Edition
ISBN: 9781260277142
Author: William Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Chapter 2.4, Problem 10TP
Summary Introduction

To determine: The countries that still practice communism.

Introduction:

Economics is the term used for the study of production, distribution and consumption of resources.

Communism is a type of economy where usually all the economic and sometimes social decisions are taken by the government.

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Students have asked these similar questions
Both China and India are rising economic powers. How might your approach to doing business with China, a communist country, be different from your approach to doing business with India, the world’s most populous democracy? In which country would you expect to encounter the most rules? The most bureaucracy?
What is socialism and what are the principal methods by which its advocates have tried to bring it into existence?
How might your approach to doing business with Communist China be different from your approach to doing business with India, the world’s most populous democracy?
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