2. INDEX
1. What is economy of a country?
2. What do we mean by
democracy?
3. Democratic Countries:-
• India
• U.S.A.
• U.K.
• Brazil
4. Non Democratic Countries:-
• Ghana
• Myanmar
• Vatican City
• North Korea
3. What do mean by economy
of a country?
• An economy is the realized
economic system of a country or
other area. It includes the
production, exchange,
distribution, and consumption of
goods and services of that area.
The study of different types and
examples of economies is the
subject of economic systems.
4. What do we mean by
democracy?
In the slogans and propaganda
that have been hurled back
and forth during these
months of war, there has
been much discussion of
those qualities of American
life call Democracy and
Freedom. Committees have
been found to defend and to
befriend democracy, and to
fight for freedom.
5. Our President says we must make
this nation an “arsenal for
Democracy,” and that it is our
mission to spread, by force if
necessary, various forms of
freedom throughout the
World. I believe it is time to
define exactly what we mean by
democracy and freedom. These
are qualities too sacred to our
country, to our traditions, and
to our hopes, to be left to the
irresponsible use of slogans and
propaganda.
7. India
According to the International
Monetary Fund, India's
nominal GDP stands at US$1.53
trillion, making it the tenth-
largest economy in the
world. With purchasing power
parity (PPP), India's economy is
the fourth largest in the world at
US$4.06 trillion. With its average
annual GDP growing at 5.8% for the
past two decades, India is also one
of the fastest growing economies in
the world. However, India's per
capita income is US$1,000, and the
country ranks 138th in nominal GDP
per capita and 129th in GDP per
capita at PPP among all countries of
the world.
8. Until 1991, all Indian governments
followed protectionist policies
that were influenced by socialist
economics. Widespread state
intervention and
regulation caused the Indian
economy to be largely closed to
the outside world. After an
acute balance of payments crisis
in 1991, the nation liberalised its
economy and has since continued
to move towards a free-market
system, emphasizing both foreign
trade and
investment. Consequently, India's
economic model is now being
described overall as capitalist.
9. UK
The UK has a partially
regulated market economy.
Based on market exchange
rates, the UK is today the sixth
largest economy in the world
and the third largest in Europe
after Germany and France,
after having fallen behind
France in 2008 for the first time
in over a decade. In recent
years, the UK economy has
been managed in accordance
with principles of market
liberalization and low taxation
and regulation.
10. Government involvement
throughout the economy is
exercised by the Chancellor of
the Exchequer. Since 1997,
the Bank of England's Monetary
Policy Committee, headed by
the Governor of the Bank of
England, has been responsible
for setting interest rates at the
level necessary to achieve the
overall inflation target for the
economy that is set by the
Chancellor each year In July
2007, the UK had government
debt at 35.5% of GDP.
11. Brazil
Brazil is the largest national
economy in Latin America,
the world's eighth largest
economy at market exchange
rates and the seventh
largest in purchasing power
parity (PPP), according to the
International Monetary Fund and
the World Bank. Brazil has
a Mixed economy with abundant
natural resources.
12. Its current GDP (PPP) per capita is
$10,200, putting Brazil in the 64th
position according to World
Bank data. It has large and
developed agricultural, mining, m
anufacturing and service sectors,
as well as a large labor pool
Brazilian exports are booming,
creating a new generation of
tycoons. Major export products
include aircraft, electrical
equipment, automobiles, ethanol,
textiles, footwear, iron ore, steel ,
coffee, orange
juice, soybeans and corned beef.
13. USA
The United States has
a capitalist mixed economy, which is
fueled by abundant natural
resources, a well-developed
infrastructure, and high
productivity. According to the
International Monetary Fund, the
U.S. GDP of $14.870 trillion
constitutes 24% of the gross world
product at market exchange rates
and almost 21% of the gross world
product at purchasing power
parity (PPP). It has the largest
national GDP in the world, though it
is about 5% less than the GDP of
the European Union at PPP in 2008.
The country ranks ninth in the world
in nominal GDP per capita and sixth
in GDP per capita at PPP.
14. The United States is the largest
importer of goods and third
largest exporter, though exports
per capita are relatively low. In
2008, the total U.S. trade
deficit was $696 billion. Canada,
China, Mexico, Japan, and
Germany are its top trading
partners. In 2007, vehicles
constituted both the leading
import and leading export
commodity . Japan is the largest
foreign holder of U.S. public
debt, having surpassed China in
early 2010. The United States
ranks second in the Global
Competitiveness Report.
16. Ghana
Ghana is a Middle Income
Economy. Well endowed with
natural resources, Ghana has
more than twice the per capita
output of the poorer countries
in West Africa. Known for
its gold in colonial times, Ghana
remains one of the world's top
gold producers. Other exports
such as cocoa, oil, timber,
electricity, diamond, bauxite, and
manganese are major sources of
foreign exchange.
17. An oilfield which is reported to contain
up to 3 billion barrels (480,000,000
m3) of light oil was discovered in
2007. Oil exploration is ongoing,
and the amount of oil continues to
increase . There is expected to be a
tremendous inflow of capital into
the economy beginning from the
first quarter of 2011 when the
country starts producing oil to be
sold through overseas licensed
counter-part GAZPROM in
commercial quantities. Also the
refining and sale of oil resources
discovered off the Ghana coast
licensed to oil giant GAZPROM has
begun being monitored by the
Ghana National Petroleum
Company.
18. Myanmar
The country is one of the poorest
nations in Southeast Asia, suffering
from decades of stagnation,
mismanagement and isolation.
Based on the Economist,
IMF: Annual average GDP growth for
the period 2001-2010 was 10.3
percent.
Under British administration, Burma
was the second-wealthiest country
in South-East Asia; second only to
the Philippines. It had been the
world's largest exporter of rice.
During British administration,
Burma supplied oil through
the Burmah Oil Company. Burma
also had a wealth of natural and
labour resources.
19. It produced 75% of the
world's teak (although the land-
clearing involved led to the
creation of vast dust-bowl) and
had a highly literate
population. The country was
believed to be on the fast track to
development.
After a parliamentary government
was formed in 1948, Prime
Minister U Nu disastrously
attempted to make Burma
a welfare state and adopted
central planning. Rice exports fell
by two thirds and mineral exports
by over 96%. Plans were partly
financed by printing money,
which led to inflation.
20. Vatican city
The Vatican City State budget includes
the Vatican museums and post
office and is supported financially by
the sale of stamps, coins, medals,
and tourist mementos; by fees for
admission to museums; and by
publications sales. Moreover, an
annual collection taken up in
dioceses and direct donations go to
a non-budgetary fund known as
Peter's Pence, which is used directly
by the Pope for charity, disaster
relief, and aid to churches in
developing nations. The incomes
and living standards of lay workers
are comparable to those of
counterparts who work in the city of
Rome.
21. Other industries include printing,
the production of mosaics and
the manufacture of staff
uniforms.
The Vatican also conducts
worldwide financial activities,
having its own bank, Istituto per
le Opere di Religione (also known
as the Vatican Bank, and with the
acronym IOR). This bank has
an ATM with instructions in Latin,
possibly the only such ATM in the
world.
22. North Korea
North Korea has an industrialised,
near-autarkic, highly
centralized command economy.
Of the five remaining Communist
states in the world, North Korea is
one of only two (along with Cuba)
with an almost entirely
government-planned, state-
owned economy. The Central
Planning Committee prepares,
supervises and implements
economic plans, while a General
Bureau of Provincial Industry in
each region is responsible for the
management of local
manufacturing facilities,
production, resource allocation
and sales
23. North Korea's isolation policy means
that international trade is highly
restricted. North Korea passed a law
in 1984 allowing for foreign
investment through joint
ventures, but failed to attract any
significant investment. In 1991, it
established the Rason Economic
Special Zone, in an attempt to
attract foreign investment
from China and Russia. Chinese and
Russian companies have purchased
rights to use the ports at Rason.
Chinese investors are renovating a
road from Rason to China, an
Russian railway workers are
renovating the railway from Rason
to Russia, from here it continues
onto the Trans-Siberian Railway
