Eastern Europe

Eastern Europe is generally considered to be borders by the Baltic and Barents seas on the north; the Adriatic, Black and Caspian seas and the Caucasus Mountains on the south; and the Ural Mountain on the East.

Eastern Europe's major mineral resources are coal, iron ore, petroleum, natural gas, and bauxite.

is an economic system under which the means of

production are privately owned. Production and consumer prices are

based on a free-market system of “supply and demand.”

is an economic system in which there is government ownership (often

referred to as “state run”) of goods and their production, with an impetus to

share work and wealth equally among the members of a society.