0
China is an odd character when it comes to the economy. China has a state-directed, right-wing economic and political apparatus. This means that there are elements of a planned economy (a command economy) and elements of capitalism (a market economy).
What generally happens is that industries in China are required to sell to the Chinese government a golden company share, which means that the government can override decisions of the company leaders and often uses this power. The use of such a power is typical of command or planned economies, especially when the Chinese government orders the company to create or produce a product that they would otherwise not choose to produce.
However, the majority of corporate decisions are made by the independent company officers, which is typical of a market economy. There are, generally speaking, no quotas and companies are allowed to produce the quantities of product that the market will bear. Prices are set by companies for most products and market infiltration by region is almost entirely at the company's discretion.
Wiki User
∙ 8y ago
Wiki User
∙ 8y agoThey have a market type economy.
Add your answer:
Earn +20 pts
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
Is Bahrains economy command or market?
a market economy
Is Greece market or command economy?
Market economy
What do you call an economy that is both partly command and market?
When an economy is partly command and partly market, is called a mixed economy.
Is turkey a market economy or command economy?
mixed market
Does Serbia have a traditional command or market economy?
It has market economy
Does Singapore have a command or free market economy?
A market economy
Does Belgium have a command or market economy?
Belgium has a market economy.
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
What is an economy that is both partly command and partly market?
When an economy is partly command and partly market, is called a mixed economy.
What kind of economy is Mongolia command or market?
it is a command economy da
Who is responsible for the command economy and market economy?
The central administration is usually responsible for the command economy and the market economy. The command economy is usually a centrally planned economy whereby the prices and supply are regulated by the government other than the market forces.
