what kind of economy might a country have if it was influenced by western thought? communist capitalist democratic republican

A country influenced by Western thought is most likely to have a capitalist economy from the options given.

Quick Scoop

Western thought in economics is strongly associated with:

• Private ownership of businesses and property.

• Market competition and price set largely by supply and demand.

• Limited (not zero) government control over most economic decisions.

Those features define a capitalist economy, not a communist one.

Why not the others?

• Communist :
  • Emphasizes government ownership of most property and resources.
  • Seeks to eliminate private ownership of major industries.
  • This clashes with core Western economic ideas about markets and private property.

• Democratic and republican :
  • These are forms of government , not types of economic systems.
  • A country can be a democratic or republican state and still choose capitalism, socialism, or a mixed system as its economy.

So, among “communist, capitalist, democratic, republican,” the best answer to “what kind of economy might a country have if it was influenced by Western thought?” is capitalist.

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