Question

Discuss the economic and political roles which South Africa or your own country plays at a regional, continental, and international level. Explain how the roles discussed in the above section have influenced South Africa or your country in the attempt to achieve sustainable economic development.​

Answer 1

South Africa has a republican government system, with a mixed market economy, composed of private liberty and a centrally planned economy.

What is a planned economy?

It corresponds to the economic system where most companies belong to the state, which is responsible for decisions that influence business and the economy, unlike the market economy, which is determined by supply and demand.

Therefore, the centralized economy is an important factor in the country, where the state manages most of the wealth produced, with greater control over the economy.

Find out more about planned economy here:

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