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Using technology to improve economies
A Vodafone case study
What is an economy?
An economy is a system which tries to balance the available resources of a country (land, labour, capital and enterprise) against the wants and needs of consumers. It deals with three key issues:- what is produced
- how it is produced, and
- who gets what is produced.
There are three main types of economy: planned economy, market economy and mixed economy. Planned (also known as command) types of economies were found in previously communist countries, such as Romania, Bulgaria and Russia, and in North Korea today. In a planned economy the government makes all