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An economic system in which the central government directs all major economic decisions?
Wiki User
∙ 9y ago
an economic system in which the central government directs all major economic decisions
Wiki User
∙ 9y ago
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The invisible hand directs economic activity through what?
prices
What statement describe one major aspect of a command economy?
Supply and demand determines what will be produced.
What is the characteristics of the planned economy?
A Planned economy, also known as a command economy, is an economic system in which the state directs the economy. The central government controls industry such that it makes all decisions regarding the production and distribution of goods and services. A planed economy is usually directed by central economic plan which is either put in place or influenced by the government. In a Planned economy the planners decide what should be produced and direct lower-level enterprises to produce those goods in accordance with national and social objectives. The Soviet Union, China, and India were all planned economies in the past.
Under this system the government owns nearly all the means of production and directs all important economic activities?
The form of government is called: communism. The "people" are nominally the joint owners of all goods and products within the system. However, because the system is operated by a government apparatus (to ensure complete equality), the outcome has invariably been complete ownership by the state instead, and by its leadership. This also includes controlling most aspects of the lives of the populace. What appeared to Karl Marx to be an ideal and utopian existence has the fatal human "flaws" of self-interest, self-determination, and independent thought.
What invisible hand directs the free market?
Incentives and efficiency
Under what system does the government owns nearly all the means of production and directs all important economic activities?
Socialism
What political organization directs the policies of government?
What political organisation directs the policies of government?"
In what countries a single authoritarian party usually controls the political system and the government owns most property and directs the majority of economic activity?
When a single authoritarian party controls the political system and the government owns most property and directs the majority of economic activity, it is a communism. Communist countries include China, Cuba, and Vietnam.
The invisible hand directs economic activity through?
The invisible hand directs economic activity through prices. The price of commodities basically determines the law of supply and demand.
The invisible hand directs economic activity through what?
prices
Which agency directs the operations of the Central Intelligence Agency?
National Security Council
What is the name of the framework directs government to avoid deficits?
longrun
What part of US government directs departments?
The director department place
What president directs the US government?
The US has only one president and he is the chief executive over the US government.
What directs that all power in the government must come from the people?
popular sovereignty, or democracy
What branch leads military?
The executive brand of the government leads the military. It directs them to where they will be fighting and what they will specifically be doing.
What branch leads the military?
The executive brand of the government leads the military. It directs them to where they will be fighting and what they will specifically be doing.
