2-4. The seven criteria for describing a nation’s economy introduced at the beginning of this chapter can be combined in a number of different ways. For example, the United States can be characterized as follows:

• Type of economy: Advanced industrial state

• Type of government: Democracy with a multiparty system

• Trade and capital flows: Incomplete free trade and part of a trading bloc

• The commanding heights: Mix of state and private ownership

• Services provided by the state and funded through taxes: Pensions and education, but not health care

• Institutions: Transparency, standards, no corruption, a free press, and strong courts

• Markets: Free market system characterized by high-risk/high-reward entrepreneurial dynamism Use these seven criteria p. 64 to develop a profile of one of the BRICS nations, or any other country that interests you. What implications does this profile have for marketing opportunities in the country?