Question

What is an important difference between Western Europe economies and Eastern European economies

Answer 1

Europe bases its economy on different economic activities. Though some of these activities are similar throughout the continent, Western Europe and Eastern Europe tend to have different focus areas. Western Europe bases much of its economic activities on service industries such as banking, trade, finance, and technology. Western Europe also manufactures products such as pharmaceuticals, automobiles, and aerospace crafts and technologies. Eastern Europe tends to focus on consumer goods and food processing. Agriculture and industry are more widespread in Eastern Europe than in Western Europe. Eastern Europe is working to shift its economy from a command economy to a mixed market, and it is beginning to add more and more service industries throughout the region.