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.
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.
Mixed economy included Capitalistic economy and also Socialistic economy. Capitalistic economy for profit earning and socialistic economy for social welfare.
The biggest economy in Africa is undoubtly the Republic of South Africa (South Africa) The South African GDP was $467.6 billion in the year 2007 and the global rank of South Africa was 27th. Egypt's GDP in 2007 was $431.9 billion and Egypt's global rank was 29. Egypt got the second biggest economy in Africa.
The four degrees of competition that exist in a capitalistic economy are: perfect competition, monopolistic competition, oligopoly, and monopoly.
Capitalistic mixed economy
government control of production and resources...A+
by brownnosing
No. India is a mixed economy , a combination of capitalistic and socialistic economies
South Africa has a market economy.
South Africa has a far larger economy.
Mixed economy included Capitalistic economy and also Socialistic economy. Capitalistic economy for profit earning and socialistic economy for social welfare.
South Africa has a far larger economy
South Africa
South Africa
South Africa - Traditional economy Nigeria - Mixed economy
Yes.
South Africa
It doesn't. South Africa has a capitalist economy.