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GOAL!

Thank you!

Competition-

is the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix

  • Monopolies control a large portion of the wealth
  • Small elites control the bulk of the nations assets

Government Regulation-

Profit Motive-

a ​law that ​controls the way that a ​business can ​operate, or all of these ​laws considered together

is the motivation of firms that operate so as to maximize their profits.

  • In Russia, power is held in the hands of a few.
  • The Elite few are the one with the motive to make the money
  • The private sector remains subject to heavy state interference
  • Inconsistent regulations

Private Ownership-

the fact of being owned by a private individual or organization, rather than by the state or a public body

  • Protection of property rights is weak
  • Little restrictions on private owners
  • Corrupt government allows these people to run the country

Russia Economic System Project

Consumer sovereignty-

the situation in an economy where the desires and needs of consumers control the output of producers.

Transition from Soviet Union to Russia

  • Moved from more central based to a "market style" of economy
  • Massive reforms in the 90's privatized the oil and energy industry
  • Because of war Russia is in a recession
  • Consumer sovereignty is rare in Russia
  • They get what is offered not what is wanted
  • Not run on supply and demand

By: Reeves and Kaylee

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