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In a market economy what dictates how a manufacturer will use their productive resources?
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All productive resources are government owned an controlled under what kind of economy?
Under a planned economy, all productive resources are government owned and controlled. This type of economy is also called a command economy.
Which department is concerned with the efficient use of your national resources in order to create a more productive economy?
The department that is concerned with the efficient use of your national resources in order to create a more productive economy is the Bureau of Economic Analysis. This provides economic statistics including the GDP.
What if your friend is a business owner in a market economy. What decides how to allocate the productive resources he uses?
Central authority
What is productive efficiency in economics?
Productive efficiency (also known as technical efficiency) occurs when the economy is utilizing all of its resources efficiently, producing most output from least input
Which department is concerned with the efficient use of our natural resources in order to create a more productive economy?
Health and human services.
All productive resources are government owned an controlled under what kind of economy?
Under a planned economy, all productive resources are government owned and controlled. This type of economy is also called a command economy.
A country that practices socialism has government control of?
the basic productive resources Nova net
Which department is concerned with the efficient use of your national resources in order to create a more productive economy?
The department that is concerned with the efficient use of your national resources in order to create a more productive economy is the Bureau of Economic Analysis. This provides economic statistics including the GDP.
What if your friend is a business owner in a market economy. What decides how to allocate the productive resources he uses?
Central authority
What is productive efficiency in economics?
Productive efficiency (also known as technical efficiency) occurs when the economy is utilizing all of its resources efficiently, producing most output from least input
How does a low unemployment rate affect a nation's economy?
The nation has a higher number of productive resources when the unemployment rate is low.
Which department is concerned with the efficient use of our natural resources in order to create a more productive economy?
Health and human services.
What is allocative efficiency and productive efficiency?
Allocative and productive efficiencies are theoretical concepts in economics. Allocative efficiency is achieved in an economy when the distribution or apportionment of resources produces the greatest utility for consumers through its combination of products. For example, and for the sake of simplicity, envision an economy with two products: pizza and robots. In an allocatively-efficient economy, businesses are producing the right amount of each product to make consumers happy. Productive efficiency, on the other hand, is when an economy is using all of its resources efficiently, producing the greatest output for the smallest input. Productive efficiency, on a production possibility frontier, occurs on any points along the curve.
What is a productive economy?
it is just a ecosystem
What are the advantages of traditional economy system?
A traditional economy is based on an established economy that has proven successful in the past. Resources are allocated by inheritance. There is no waste of resources and roles are well defined. A huge disadvantage, however, is a resistance to change.
What is the reasons for international trade?
In order to have a high economy and productive country,we need to have a trade between the other country that had a productive economy too.
What is efficiency in economics?
Productive efficiency (also known as technical efficiency) occurs when the economy is utilizing all of its resources efficiently, producing most output from least input
