BRICS countries are examples of ________ economies.

Question

Quizplus · Accepted Answer

BRICS countries (Brazil, Russia, India, China, South Africa) are commonly referred to as industrializing or emerging economies, as they are experiencing rapid economic growth and industrialization. They have significant potential to develop their industries and increase their competitiveness in the global market, making them important players in the global economy. While some BRICS countries are also raw material exporters, this is not the defining characteristic of the group as a whole. Subsistence economies are characterized by low productivity and self-sufficiency, and do not describe the BRICS countries. Totalitarianism refers to political systems rather than economic ones.

BRICS Countries Are Examples of ________ Economies