2 years ago

Which type of economic system is Mongolia developing?

Social Studies

1 answer:

xxTIMURxx [149]2 years ago

7 0

Answer:

Free Market

Explanation:

Mongolian has been known as a communist country since early 1920s. (Mostly due to their close relationships with the Republic of China). But until the 2000s, Mongolia's economy still considered as underdeveloped. Majority of them till relied on agricultural sector.

This is why they're experimenting with the Free Market System. They tried to followed China's footstep and developed some ways to give some of the control of Mongolia's resources to the private sector.

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