1
Question
The economy of Finland encourages private ownership of property and free enterprise while the government exercises monopoly over certain strategic sectors. It is a welfare state that enforces universal healthcare and education for its citizens. What kind of economic and political system does Finland follow?
The economy of Finland encourages private ownership of property and free enterprise while the government exercises monopoly over certain strategic sectors. It is a welfare state that enforces universal healthcare and education for its citizens. What kind of economic and political system does Finland follow?
Open in App
Solution
The correct option is B Capitalism
The economy of Finland has a capitalist economy. The economic policies adopted by its economy entails a lot of pro-business policies. It encourages private ownership and taxes the middle class appropriately to fund its extensive welfare system. Though Finland might have achieved an egalitarian society with low levels of inequality synonymous with socialistic principles, the economy of Finland and other Nordic nations are primarily capitalistic in nature.
The economy of Finland has a capitalist economy. The economic policies adopted by its economy entails a lot of pro-business policies. It encourages private ownership and taxes the middle class appropriately to fund its extensive welfare system. Though Finland might have achieved an egalitarian society with low levels of inequality synonymous with socialistic principles, the economy of Finland and other Nordic nations are primarily capitalistic in nature.
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
