Venezuela is a country that is located in South America and borders Columbia and Brazil. It has a population of 28,047,938. The capital of Venezuela is Caracas, and its density is 38.1 / km2. Venezuela is a free market economy, in economics a free market economy is a system in which the prices for goods and services are determined by the open market and by consumers. In a free market, the laws and forces of supply and demand are free from any intervention by a government, or by other authorities.

The leader of Venezuela is Nicolás Maduro, he was born November 23, 1962. He was the right hand man for most of Chavers presidency. He was chosen by Chavez to be the next president. Shortly after being elected, oil prices dropped and since 98% of the country exports earning from oil, the country declined rapidly. Nicolas maduro blamed the united states and other countries for starting and “economic war”. Russia and China then provided financial help. “But, 64% of Venezuelans lost weight in 2017, losing on average 25 pounds,  because of the inability to pay for food and food shortages. About a quarter of the population does not eat three times a day, and 82% lived in poverty as of 2017.”