<span>The three basic economic systems are Market
Economy, Mixed Economy, and Planned Economy. Basically, an economic system refers
to the different systems of production, allocation of resources, exchanges, and
distribution of goods and services. This happens in almost all societies but differs
in the policies that are being implemented and followed.</span>
Answer:
(3) Joint venture
Explanation:
Once a company has decided to enter the global marketplace, it must select a means of market entry. Four general options exist: (1) exporting; (2) licensing; (3) <u>joint venture</u>; and (4) direct investment.
Joint venture refers to <u>an association that occurs between two companies that are usually located in different countries, in which they combine marketing strategies in order to increase their revenues and enter the global marketplace.</u>
An example is the joint venture of General Motors–Suzuki. This "alliance" was <u>extremely beneficial for both companies</u>, as it allowed Suzuki to access both American and European markets, while General Motors employees learned important Japanese manufacturing methods.
<u><em>There are 2 types of economies,</em></u>
<u><em>---> Formal economies ( Eg: Capitalism, Socialism etc)</em></u>
<u><em>----> Informal economies ( Eg : Underground Economy)</em></u>
The Battle of Stalingrad was a brutal military campaign between Russian forces and those of Nazi Germany and the Axis powers during World War II. ... But the Battle of Stalingrad (one of Russia's important industrial cities) ultimately turned the tide of World War II in favor of the Allied forces.