please find the attached files. i look forward to working with you again. good bye
Running head: CRITICAL THINKING
Under Chávez’s leadership, what kind of economic system was put in place in Venezuela?
How would you characterize the political system?
Venezuela, under their leader Chavez mainly operated under some command economy.
In business, the command economy entails a system that accommodates resource allocation, such
as establishing what services and goods the nation should produce. In most cases, the
government decides on the production quantity. Chavez mainly worked on consolidating his
grip, especially towards the government apparatus. He also ensured that his followers remained
the majority in the constituent assembly. Apart from that, they managed to draft the constitution,
which eventually helped in strengthening his dominance.
On the other hand, he ensured that he had total control over Venezuela’s media.
Venezuela has historically been the most regulated economies globally, given the fact that the
state tends to control most of the nation’s business activities. In fact, public officials tend to
enrich themselves through bribes and business lines. Un...
15 Million Students Helped!
Sign up to view the full answer