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In this type of economy the government owns the basic mean of production?
Ausam
I put the question for people who doesn't know but i know it it is Socialism
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∙ 12y ago
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What does the public sector mean in economics?
The public sector is the part of the economy providing basic good and services which are controlled and maintained by either the federal or local government.
What is an economy without government influence?
Do you mean a name or what is it. For what is it, it's horrid.
What economy is a system in which the central government makes all decisions?
Which type of government you mean? To some extent a communist government.
What does industery mean?
Industry refers to the production of an economic good (either material or a service) within an economy.
What is government control of land and all other mean of production called?
communismcommunism
What does the public sector mean in economics?
The public sector is the part of the economy providing basic good and services which are controlled and maintained by either the federal or local government.
What do you mean by industery?
Industry is the production of a good or service within an economy.
What is an economy without government influence?
Do you mean a name or what is it. For what is it, it's horrid.
What economy is a system in which the central government makes all decisions?
Which type of government you mean? To some extent a communist government.
What does characterized by more government ownership and central planning mean?
mixed economy
What does industery mean?
Industry refers to the production of an economic good (either material or a service) within an economy.
What does laisse fare mean?
Do you mean laissez-faire? if so, it is when the government has a "hands-off" mentality on business and the economy. they let the economy run itself and don't interfere.
What is government control of land and all other mean of production called?
communismcommunism
What you mean by open economy and closed economy?
By open economy it means that economy in which private people are allowed to participate in making economic decisions while,by closed economy it means the economy in which the government is the one planning for the whole society
What does it mean when tasks in an economy are specialized?
When tasks in an economy are specialized there are a number of things that happen. This will enhance efficiency and there will be increased production level as each department is monitored individually.
What does the idiom 'underground economy' mean?
The part of a country's economic activity that is unrecorded and untaxed by its government.
What do you mean by an economy?
An economy (or the economy) is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems.
