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A market economy has producers that grow, make or manufacture goods. These are then sold to middle men who wholesale the good to retailer that sell them to the consumers.
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In a mixed-market economic system who determines what products should be produced and how they should be produced?
In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts. In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.
What three questions define the economy of a society?
what goods and services should be produced? How should goods and services be produced? who should get and use the goods and services?
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
What are the 3 basic economic questions?
The three basic economic questions are:What goods and services should be produced?How should the goods and services be produced?For whom should the goods and services be produced?
How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
In a mixed-market economic system who determines what products should be produced and how they should be produced?
In a command economy, also known as a planned economy, the government largely determines what is produced and in what amounts. In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.
What three questions define the economy of a society?
what goods and services should be produced? How should goods and services be produced? who should get and use the goods and services?
What Three question every economy must answer?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?
What are the 3 basic economic questions?
The three basic economic questions are:What goods and services should be produced?How should the goods and services be produced?For whom should the goods and services be produced?
What are the four basic questions of economy?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
How Goods Services are produced?
goods and services in a market economy should be produced by labor. capital is needed so that physical products are produced by labor. capital tends to make labor more productive. in order to makes products land is needed to create for labor. labor is used to create capital on land to produce wealth.
How does Mexico answer the three economic questions?
What goods and services should be produced - export goods, as Mexico has an export-oriented economy. How should the goods and services be produced - Using foreign investment whenever possible; for internal consumption internal investment can be used. For whom should the goods and services be produced - international markets.
What are the three main type of economic system?
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, consumer)
What are the characteristics of a command economy?
The primary characteristic of a command economy is that supply and price are regulated by the government instead of the market. In this way, the government decides which goods are produced and how they should be distributed.
Is china a free market economy?
No. it should be under mixed market economy
What is a market economy based on?
A market economy is an economy in which decisions regarding investment, production and distribution are based on market determined supply and demand. Prices of goods and services are determined in a free priced system
Contrast how a market system and a command economy try to cope with the problem of economic scarcity?
A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. China, Cuba, North Korea and the former Soviet Union are examples of countries that have command economies. Read more: http://www.investopedia.com/terms/c/command-economy.asp#ixzz27xmMBJXEA market system is an economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority; a capitalistic economy.
