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17 July, 02:11

Explain how Iceland has been trying to change the answer to the fundamental economic question: What goods and services are to be produced?

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  1. 17 July, 02:40
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    Main material exported by Iceland are aluminum products and fish products, and main service exports are tourism related services.

    Explanation:

    The economical growth of Iceland is higher at the 90's but the growth of economy was slow and bailout package was taken by the Iceland government in 2009 from IMF. The main industries of Iceland is fisheries, tourism and aluminium products. The items produced from these industries are exported to other countries for earning foreign currency.
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