Economy of Ventora

The economy of Ventora is one of the most economies in the world and is heavily influenced by the concepts of  as a means of caring for the workforce. Activities in the agriculture, manufacturing, and service sectors ensure diversity in Ventora's economy. The strong educational system plays a key role in the country's technological and scientific sectors.

Overview
Ventora considers economic liberty as key, ensuring the freedom to produce, trade, and consume any goods and services without fear or use of force, fraud, or theft. As a result, there is minimal government intervention and the regulatory and taxation schemes encourage economic growth. Within this framework, the law allows for important consumer and property protections while also ensuring effective competition within markets.

Currency and monetary policy
The Ventoran standard (: estandar, symbol: Ɇ) is the country's currency. It divides into 100 cents (centavos). Issued by the State Bank of Ventora (Banco Estatal de Ventora, BEV), the, commonly used standard banknotes come in denominations of 1, 5, 10, 25, 50, and 100. There are also 1 and 5 standard coins. The State Bank sets the value of the currency based on a currency band influenced by the exchange rate of several currencies.

Business environment
A concern must have a registered agent in Ventora in order to do business in the country. Domestic firms, and firms with dual-nationality head offices one of which is in Ventora, may serve as their own registered agents. A Ventoran-based subsidiary of a foreign-owned company may serve as registered agent for both or the foreign business may hire a service to act as its registered agent. Registered agents see to the necessities of legal process service, required filings, and other services as may be required or desired.

Legal structures for businesses in Ventora consist of the following:
 * Sole proprietor &mdash;a single business owner
 * Partnership (Sociedad Empresa, SE) &mdash;two or more persons who own a business with at least one of the partners actively engaged in conducting the business
 * Limited company or corporation (Sociedad Anónima, SA) &mdash;a stock company with liability limited to the corporate assets and value of stock shares, usually operated under the direction of a management board of at least one person
 * Cooperative (Sociedad Cooperativa, SC) &mdash;a non-profit entity with general or limited (Sociedad Cooperativa anónima, SCa) liability; often engaged in pensions and healthcare management or other social welfare-related activities

Domestic stock companies have their stocks traded predominantly on the Bolsa de Ascara (Ascara Exchange). Located in the country's largest city, Bricento, it is the only exchange in Ventora.

There are strong protections for intellectual properties, such as trademarks, patents, and copyrights. To ensure effective competition, the law provides for merger and acquisitions management under the auspices of the Open Markets Board (: Junta de Mercados Libres}}, JML). In this regard, the Board denies consolidations and asset purchases that result in market shares exceeding 60%. Furthermore, the board investigates and takes measures against prohibited exclusive dealings and territories actions.

Consumer protections
By law, businesses may not engage in predatory or exploitive pricing or require purchase of a good or service contingent on the purchase of another good or service. Businesses also may not prohibit consumers from doing business with other firms nor make the honoring of warranty or guarantee provisions subject to any conditions of sale beyond the initial purchase. Consumers may be required to ensure adequate servicing and maintenance, however. Businesses must not discriminate in pricing among similarly situated customers and transactions and the price of goods or services sold must equal or exceed their cost.

Income and wealth
Largely due to the historical, ingrained social class system in the country, there is a large disparity in incomes. As a result, Ventora has one of the highest s at 1. Higher incomes tend to be concentrated in the nobility and business owners. While they make up less than 2% of the population, they account for 46.2% of income. In similar fashion, land owners, who tend to be nobles and business owners, hold the majority of wealth in the country. They account for 55.9% of wealth.

Conversely, the working and base classes, together with the lower middle class, make up 85.8% of the population. Yet, these groups only account for about 28% of income and just under 21% of the country's wealth. These inequalities also bear out in the three-tier franchise system used in national and many sub-national elections. The system groups voters into tiers based on taxes paid. Since higher earners and landowners pay more taxes, they tend to have more influence in electoral outcomes.

Taxation
Ventora has a rather simple taxation scheme. Businesses pay a 10% tax on net retained income, which is income after expenses not reinvested into the concern. There is an additional 10% tax on business income distributions, such as dividends to shareholders, and another 10% tax on profits repatriated by foreign companies. A foreign company is any business with ownership outside the borders of Ventora exceeding half of the shares or value of the company. There is also a 10% tax applied to s realized on the sale of assets for both natural persons and companies. A foreign entity must also pay an additional 10% branch tax if capital gains are transferred out of Ventora.

Tariffs and duties also follow a straightforward regimen uniformly applied across various commodity groups. Due to the commitment to an open market, Ventora rarely institutes punitive or disparate tariff rates. Instead, the Open Markets Board investigates and addresses allegations of anti-competitiveness through legal means. Similarly, tariffs are not a suitable mechanism in the foreign policy domain for Ventora. Of interest, customs duties mirror tariffs for arriving individual travelers, generally with personal use quantities excepted.

There is an excise tax on some products in addition to any other taxes due. The rates are 5% of wholesale on alcohol, 50% of wholesale on tobacco, 25% on retail of non-medical drugs, 1% of retail on food purchases above 18,000 calories weekly (3,000 daily) and above 1.5 kg weekly meat, 0.5 kg weekly fats/oil. Excise taxes are distributed to healthcare funds on a per capita basis and have the intent to reduce unhealthy lifestyle practices.

Duchies, counties, and collect the property tax and 10% goods and service tax (GST). As a value-added tax, the GST is applied at each offering of a good or service for sale at wholesale or retail. Foodstuffs, housing, and healthcare are exempted from the GST. The property tax is based on the value of land, exclusive of improvements with local governments setting the rate.

Sectors
There is great diversity in Ventora's economic sectors. The long-standing industrial sector accounts for nearly a quarter of gross domestic product (GDP). Agriculture makes up almost 5% of GDP, with services, including tourism, administration, and banking, accounting for the remainder.

Agriculture
The central plains are Ventora's breadbasket. The country is the largest source of s, which grow in the northern scrublands. Grains are the largest crop, including, , and. Grapes are a popular crop in the southeastern foothills of the Tilarg Mountains and the region has many vineyards and wineries. Wine is a significant export and a popular drink domestically, especially mixed with fruit juices and brandy to make. There are also many orchards for oranges, grapefruit, apples, apricots, pears, peaches, and plums. Vegetables include tomatoes, onions, potatoes, and nuts, particularly peanuts, walnuts, and pecans.

Livestock raised in Ventora includes cattle, pigs, chickens, and lambs. In the higher elevations, sheep and goats are the main livestock, followed by cattle. Generally no longer raised as beasts of burden, horses have become the prerogative largely of the wealthy. Fishing has been a major food source since before recorded history and commercial fishing remains an important economic activity.

Manufacturing
Many different concerns operate manufacturing facilities and other industrial works to produce thousands of different products for both domestic and foreign trade. The companies make both finished goods and intermediate goods, such as sheet and rolled metals, plastics, equipment components, and chemical feedstocks. Subassemblies and parts are becoming a growing segment within the manufacturing sector. Finished goods run the range from appliances, consumer electronics, textiles, road vehicles, and aircraft to machinery and armaments.

Most of the automobiles produced in Ventora are economy models. Products from Sociedad Tramullas de Automóviles Rallye (STAR) are leading sellers for their low cost to purchase and operate as well as their durability and ease of maintenance. Bego s are popular both domestically and overseas. Some automotive manufacturers also build vehicles for the Ventoran Armed Forces using designs licensed from other countries.

Mining
Once a much larger segment of the economy, mining is still important. Ventora has rich deposits of uranium. The decline in economically harvestable coalfields has been at least partially offset by increased uranium mining. This has facilitated the country's transition to cleaner energy sources.

Iron and copper ore deposits are abundant, allowing small export quantitties. Other metal commodities, such as nickel, zinc, potassium, and magnesium, can be found economically extractible quantities to meet domestic needs.

Ventora is also an important source of s, gypsum, and sulfur. Limestone is also abundant but is not a significant export commodity.

Services
Like in many other countries, the service sector has grown to be the largest economic sector, despite Ventora having a comparatively small government due to far less intrusive regulatory schemes. Office workers, who provide administrative support to business and government, banking and finance, tourism, and transport are key components of the service sector. Education and healthcare make up a good portion of service occupations as well.

Tourism
The mild climate along the coast and the warm waters of the Abayadi Sea make the country an attractive tourist destination. A number of holiday centers cater to customers with moderate incomes but travelers of means prefer the fancier resorts. Several holiday centers offer so-called all-inclusive packages at which customers pay a set price covering lodging, food, and, depending on the plan, certain entertainment or sightseeing activities. Tourism enjoys patronage from both domestic and foreign visitors.

With a long past and unique mix of cultures, historical and cultural tourism are also popular reasons for visiting Ventora.

Infrastructure
Economists attribute Ventora's well-developed infrastructure to the open economic system in which few utilities are monopolistic. The competitive environment encourages development and a high level of service in order to attract customers. At the same time, government oversight of the utility and transport networks reduces excess redundancy to ensure efficiencies.

Energy
Electrical consumption was 526.3 TWh in 2018, averaging 6,523.13 kWh per person. Generating capacity is 578.9 TWh, almost evenly split between nuclear, renewables, and fossil fuels. Nuclear generating stations, accounting for 33.8% of electricity production, consist of about half fast-breeder reactors, a third pressurized water reactors, and the remainder gas-cooled reactors. Renewables provide for 36.7% of electricity production, with the largest sources being wind, hydro, and solar. Biofuels, solid waste, and geothermal facilities are other renewable energy sources. Fossil fuels, including coal, natural gas, and petroleum, produce the remaining 29.4% of electricity in Ventora. The country is an electricity exporter, producing more than it consumes, amounting to about 52.6 TWh of surplus in 2018.

Transport
High-speed intercity passenger rail, under the moniker Tren Rápido, serve a growing number of Ventoran cities, particularly along the south coast. A well-developed conventional rail network facilitates passenger and freight rail service to most of Venotra's mid-sized and larger cities with routes through all 26 duchies. Smaller towns have access to passenger rail through connecting bus service.

Inland and coastal waterways provide another means for goods and passengers to move from one locale to another. As a country with a long maritime history, Ventora has several seaports for handling imports, exports, and international passenger service. These ports are among the busiest in southwest Alutra.

With xxx km (xxx mi) of roadway, Ventora's autovia dual-carriageway highways connect all major cities as well as many cities and towns in between. A number of autovias are operated as tollways by private concerns under concession.

Trade
With a long-standing history of trade, the country's open free-market economy and simple tariffs scheme continues that tradition of robust international trade. Haksarad has customarily been Ventora's longest and leading trade partner. As neighbors, Watan and Esharat are also significant trade partners.

Exports
The country exports inexpensive consumer goods, automobiles, foodstuffs, intermediate products, and raw materials. Top exports include:
 * Agriculture goods&mdash;olives, fish, grains, fruits
 * Food products&mdash;wine, meats
 * Consumer goods&mdash;appliances, radio receivers, footwear, automobiles, furniture
 * Intermediate products&mdash;textiles, metals, chemical feedstocks, automotive parts, machinery components, electrical components
 * Industrial goods&mdash;fertilizer, machinery, aircraft
 * Raw materials&mdash;phosphates, gypsum, sulfur, iron ore, copper ore

Imports
Although Ventora manufactures a lot of items under license, it also imports many goods as well. Top imports include:
 * Medical equipment and pharmaceuticals
 * Luxury goods&mdash;fashionwear, appliances, automobiles
 * Machinery and electrical equipment
 * Foodstuffs
 * Petroleum, natural gas, and petrochemicals