Pain is a free market economy which is the more common type of economy in most highly developed countries. It “allows the relationships between product supply and consumer demand to dictate prices” (Smallbusiness). That means that there is little to no government intervention in a free market economy what gives people and business owners more freedom.
The types of agriculture existing in Pain are commercial farming and dairy farming. Commercial farming is the cultivating of crops with the aim to make profit (by selling in the country but also by exporting the crops as manufactured or unmanufactured goods) and to meet the food supplies of the population. Dairy farming is the rearing of cattle to achieve the same goals as in commercial farming just by gaining dairy products instead of crops.
Pain imports and exports a variety of different products.
Their export is made up of many different manufactured and unmanufactured goods which also means a good variety of export goods that are more and less profitable.
The unmanufactured goods that Pain sells are mainly from natural resources, agriculture and fishing. Fish is one of Pain’s main exports of unmanufactured goods since they have a great supply of fish thanks to their far developed fish farms and their location by the sea. Also, fish is becoming more and more popular since fish is very healthy and more and more dishes including fish are becoming popular. The main type of fish are sardines, sea bass, swordfish and codfish. It is important to consider that fishing in Pain is done without destroying the sea ecosystem. In addition, lots of investment is being done in fish farming to support the fish consumption and export. The agriculture in Pain is very profitable and good because of the good conditions: good climate, high precipitation, very fertile soil, the large rivers crossing through the country and the big variety of crops that can be planted and also the great variety of wildlife that can survive in Pain. Pain exports a lot of oil, coal and phosphorus which are part of the natural resources.
The main industries in Pain include shipping and technological firms that produce a variety of products from phones up to fridges also for export. One of the biggest shipyards on Earth can be found in Madron, the capital of Pain located at the centre of the west coast to the Atlantic Ocean. There, a variety of the biggest ships are built: cruise ships (tourism), massive transport ships (import/export), etc.
Other than the primary sector of economy (unmanufactured goods) and the secondary sector (manufactured goods) there is also the tertiary sector of economy: services. This sector includes tourism, banks, personal services like hairdressers, supermarkets etc. but as well services like schools and hospitals are provided by the government and also bring a lot of money resulting from the people paying high taxes for these.
Imports and exports most often travel by land (import from/export to countries close by) and sea (import from/export to countries further away) because those two ways are cheaper than import and export by air and also due to the easy accessibility of Pain by sea and the many ports that the country holds. Moreover, usually more goods can be imported/exported at once with ships (by sea) or by trucks/trains/etc. (by land) than by air.
The currency present in Pain is Euro (€). That is because Pain is part of the European Union and the Euro is the currency in countries that are part of the European Union but is also the most used currency in general in Europe (24 out of 50 countries use the Euro in Europe).
The taxes in Pain are quite high so that social services (health, education etc.) can be provided with good quality. The income tax is 45% for a big part of the population, the value-added tax 12% and the corporate tax 30%. If a persons’ income is very low in Pain then that person has to pay less tax. That would maybe be for immigrants from Africa or immigrants from other countries for example who choose to live in Pain (more about immigrants in the Social Section).
The GDP per capita for last year was 65 000 US$.
The types of agriculture existing in Pain are commercial farming and dairy farming. Commercial farming is the cultivating of crops with the aim to make profit (by selling in the country but also by exporting the crops as manufactured or unmanufactured goods) and to meet the food supplies of the population. Dairy farming is the rearing of cattle to achieve the same goals as in commercial farming just by gaining dairy products instead of crops.
Pain imports and exports a variety of different products.
Their export is made up of many different manufactured and unmanufactured goods which also means a good variety of export goods that are more and less profitable.
The unmanufactured goods that Pain sells are mainly from natural resources, agriculture and fishing. Fish is one of Pain’s main exports of unmanufactured goods since they have a great supply of fish thanks to their far developed fish farms and their location by the sea. Also, fish is becoming more and more popular since fish is very healthy and more and more dishes including fish are becoming popular. The main type of fish are sardines, sea bass, swordfish and codfish. It is important to consider that fishing in Pain is done without destroying the sea ecosystem. In addition, lots of investment is being done in fish farming to support the fish consumption and export. The agriculture in Pain is very profitable and good because of the good conditions: good climate, high precipitation, very fertile soil, the large rivers crossing through the country and the big variety of crops that can be planted and also the great variety of wildlife that can survive in Pain. Pain exports a lot of oil, coal and phosphorus which are part of the natural resources.
The main industries in Pain include shipping and technological firms that produce a variety of products from phones up to fridges also for export. One of the biggest shipyards on Earth can be found in Madron, the capital of Pain located at the centre of the west coast to the Atlantic Ocean. There, a variety of the biggest ships are built: cruise ships (tourism), massive transport ships (import/export), etc.
Other than the primary sector of economy (unmanufactured goods) and the secondary sector (manufactured goods) there is also the tertiary sector of economy: services. This sector includes tourism, banks, personal services like hairdressers, supermarkets etc. but as well services like schools and hospitals are provided by the government and also bring a lot of money resulting from the people paying high taxes for these.
Imports and exports most often travel by land (import from/export to countries close by) and sea (import from/export to countries further away) because those two ways are cheaper than import and export by air and also due to the easy accessibility of Pain by sea and the many ports that the country holds. Moreover, usually more goods can be imported/exported at once with ships (by sea) or by trucks/trains/etc. (by land) than by air.
The currency present in Pain is Euro (€). That is because Pain is part of the European Union and the Euro is the currency in countries that are part of the European Union but is also the most used currency in general in Europe (24 out of 50 countries use the Euro in Europe).
The taxes in Pain are quite high so that social services (health, education etc.) can be provided with good quality. The income tax is 45% for a big part of the population, the value-added tax 12% and the corporate tax 30%. If a persons’ income is very low in Pain then that person has to pay less tax. That would maybe be for immigrants from Africa or immigrants from other countries for example who choose to live in Pain (more about immigrants in the Social Section).
The GDP per capita for last year was 65 000 US$.