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In a planned economy of the following does the job of market forces in order to determine the outcomes?
Wiki User
∙ 6y ago
In a planned economy, the government does the job of market forces in order to determine the outcomes.
Alek Batz
Leo Bergnaum
workers
Wiki User
∙ 8y agoNO. A planned economy is organized by the government and will produce as much or as little of a product as the government desires, regardless of whether there is a market demand or not for the product.
Wiki User
∙ 9y agoThe government
Wiki User
∙ 9y agoworkers
Henry Cervantes
Anonymous
the government
Bobby Hill
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Who decides where people will work in a centrally planned economy?
I don't quite understand your question, isn't the definition of a centrally-planned economy one in which the government plans the economy? I imagine that in most centrally planned economic schemes the government would either determine the prices or set a cap for essential goods.
Which of the following is another term for a planned economy?
Socialist system
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
How is the government involved in a planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
The government does which of the following in a planned economy?
Runs the economic system
Who decides where people will work in a centrally planned economy?
I don't quite understand your question, isn't the definition of a centrally-planned economy one in which the government plans the economy? I imagine that in most centrally planned economic schemes the government would either determine the prices or set a cap for essential goods.
Which of the following is another term for a planned economy?
Socialist system
What are some disadvantages of planned economy?
One disadvantage of the planned economy is that there is inefficient resource distribution.
Who controls North Korea’s economy and owns and runs all factories and farms?
Who controls the economy in North Korea? The economy of North Korea is a centrally planned economy, following Juche, where the role of market allocation schemes is limited, although increasing. As of 2021, North Korea continues its basic adherence to a centralized command economy.
How is the economy of totalitarian govern states?
It is a Planned Economy
Why does Spain have a mixed economy?
both the government and the public control the economy, were as Russia is a planned economy because everything is planned and the government has full control
How different is a market economy from a planned economy?
Central Planning: A centrally planned economy relies on a party in power to decide what resources should be allocated to various demands as they see fit.Free Market: A free market economy relies on prices to determine where demand should be filled and to what extent.Because of these differences, an economy that is centrally planned is usually inefficient in their allocation of resources to each market. They decide beforehand which areas will get resources, restricting the supply and setting a price with no knowledge about the consumer's choice.A free market is much more adaptable, using price as a communicator, supply, demand and price interact to form equilibriums that satisfy market clearing outcomes. This system is much more efficient in that the people who value the goods most are able to get them. This is the idea, it doesn't always work perfectly.
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
How is the government involved in a planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
What is the Army Readiness Assessment Program?
the following can soldiers use to determine residual risk for a planned privately owned vehicle trip
