How are countries’ economies similar, even if they have access to different resources and are in different locations?
They all must answer the questions of what to produce and how to produce it based on the resources they have.
They all use the same method or share the same beliefs when making decisions about what to manufacture.
They all must produce a certain number of different products to have a successful economy.
They all must achieve a certain ratio of goods produced compared to goods purchased to make their economies work.
Solution
The countries have similar economy only when they have similarity in beliefs or operation. For instance countries having different geography, resources etc. can have capitalist economy depending on the fact that it put more emphasis to business and revenue generation than the betterment of society. Like wise similarity is operation such as opening the economy for the global market make it a globalized economy
