answersLogoWhite

0


Best Answer

South Africa uses a mixed economic system mainly because their are abudant idle resources which can only be put to use by having the country's government owning, controlling ang allocating the resources as well as some capable individuals. And it is through this that they can satisfy the unlimited wants of the people as individuals produce goods and services along the government.

User Avatar

Wiki User

βˆ™ 12y ago
This answer is:
User Avatar
User Avatar

Anonymous

Lvl 1
βˆ™ 4y ago
this really helped me with my business assignmentΒ 
More answers
User Avatar

Wiki User

βˆ™ 11y ago

The South African economy is based on capitalism. Private property and profit are respected in law and in the constitution. The Joburg Stock Exchange is the symbol of that capitalist activity and it is the largest in Africa. There is a booming business sector in South Africa across the spectrum of enterprises from mining, industry, commercial activities, information technology to tourism and entertainment.

Taxes generated from business and wealthy individual taxpayers are used to subsidise the costs of services to poorer residents. If you are poor, you may be eligible for free housing, free medical care, free education, basic free water and basic free electricity. There are also numerous welfare grants and state pensions available to qualified people. In this sense South Africa's economy has strong elements of socialism to it.

This answer is:
User Avatar

User Avatar

Wiki User

βˆ™ 13y ago

NO!!! it's communism. Ruled and runned by only one group of people

This answer is:
User Avatar

User Avatar

Wiki User

βˆ™ 16y ago

yes

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Does South Africa have a capitalistic economy?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How is capitalistic applied in South Africa?

by brownnosing


Capitalistic economy of India?

No. India is a mixed economy , a combination of capitalistic and socialistic economies


Is South Africa a market or government economy?

South Africa has a market economy.


Who has the larger economy South Africa or Zambia?

South Africa has a far larger economy.


What is included in mixed economy?

Mixed economy included Capitalistic economy and also Socialistic economy. Capitalistic economy for profit earning and socialistic economy for social welfare.


Which countries has the largest economy South Africa or Zambia?

South Africa has a far larger economy


Who has the largest economy between South Africa and Zambia?

South Africa


Who has the largest Economy between South Africa or Zambia?

South Africa


What type of economic systems do South Africa and Nigeria have?

South Africa - Traditional economy Nigeria - Mixed economy


Is Finland a capitalistic economy?

Yes.


What has the most developed economy in Africa?

South Africa


How does South Africa practice socialism?

It doesn't. South Africa has a capitalist economy.