Part I: ​Answer the questions about the use of resources and what types of

goods are being produced in the country you are researching.

● What will be produced with your country's resources?

​ ishing is the main industry and product recourse in Greenland. They are famous for
F
crustaceans and fish.

● How will these goods be produced?

For these essentials in the world, they need to make sure that the bed in
Disko Bay are maintained and disturbed by the people not associated with
Greenland’s distribution.

● Who will use these goods?

These goods will be used to stock seafood distribution centers across

● Will these goods be exported?

Fishing is the lifeline and primary industry of the Greenlandic economy. The most
commercial resources are shrimps, Greenland halibut and recently the reintroduction of
cod. The fleet consists of about 850 vessels of various sizes and there is an estimated
figure of 5000 smaller boats.

Part 2: ​Complete the table to provide a brief overview of the economic

system of the country you are researching.

What is the country that you are researching:

Greenland

Write a brief summary of the economic system of the country: Identify and
explain the type of economic system.
Greenland is a country that is capitalist mixed economy, which means that it is a “system that
allows a level of private economic freedom in the use of capital, but also allows for governments
to interfere in economic activities in order to achieve social aims. This type of economic system
is less efficient than capitalism, but more efficient than socialism
Select three key economic indicators such as poverty rates, labor
distribution, use of resources, etc. and analyze what this information says
about the country, how does it compare to other countries, change over
time, etc.

One of the changes that are happening in Greenland is that they are
gradually switching from fossil fuel to hydropower for electricity production.
As well, in their economy, they greatly depend on fishing industries and
large fish exports. In the Unite states the unemployment rate was 4.6%
while Greenland was at 6.8% in 2007. In 2007 Greenland’s poverty was
below the line by 9.2%. This tells us that even though they had a higher
poverty rate then the United States, they are still able to get another job
quickly and keep their homes. For their labor force, Greenland’s popular
occupation is services (63.2%), industry (31.9%), and agriculture (4.9%).
To support all of this information, Greenland must have a budget to make
decisions and in 2010 there budget for expenditures was $1.68 billion.
There budget revenue in 2013 was $1.72 billion making for what they spent
even out and still have money for repairs or hiring more people in the three
popular occupations. To add on, in 2007 there budget revenues per capita
was $26,090.

Identify the GDP - per capita for the country.

As of 2011, Greenland’s GDP is $2.133 billion in purchasing power parity

while in the exchange rate the GDP is $2.16 billion. The growth rate for
GDP has increased by 3% and in 2008 the GDO per capita (PPP) was
$38,400.