Write the Meaning of Each Abbreviation

question 71

Short Answer

Write the meaning of each abbreviation.
-HCV____________________

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Definitions:

Socialistic Economies

Economic systems where the means of production, distribution, and exchange are owned or regulated by the community as a whole.

Free Market Economies

Economic systems where prices for goods and services are determined by the open market and consumers, with minimal government intervention.

Global Governments

Collective term for the official governing bodies of countries and nations around the world, each with its own system of management and regulation.

Global Recession

A period of worldwide economic decline, marked by reduced industrial production, trade, and investment, affecting multiple countries simultaneously.