The seven criteria for describing a nation’s economy can be combined in a number

The seven criteria for describing a nation’s economy 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, low corruption, a free press, and strong courts Market: Free market system characterized by high-risk/high reward entrepreneurial dynamism Use the seven criteria found on this chapter to develop a profile of one of the BRICS nations. What implication does this profile have for business opportunities in the country?