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Is china a market economy a command economy a traditional economy or a mixed economy?
Wiki User
∙ 10y ago
•1) Market economy-
An economic system in which individuals own and operate different factions of production.
Examples: Free Enterprise & Capitalism
2) Traditional Economy -
An economic system based on culture and tradition. Economy is based on agriculture and hunting.
Examples: Non-Industrialized agrarian societies.
Wiki User
∙ 11y ago
Wiki User
∙ 8y agoChina 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
∙ 15y agoChina has a command market. A traditional market would be one based off of bartering, where the people exchange goods, not money.
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∙ 15y agoIrina is awesome Irina is bad Irina is a pest Irina is the best Irina is a girl
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∙ 12y agogfjjjh
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Is china a market command or mixed economy?
It was a command but now it is slowly moving to be a market.
Who changed China's economy from command to free market economy?
Although China is not yet considered to have a fully-fledged free market economy, Deng Xiaoping is credited with having enacted many economic reforms that helped push China in that direction.
Which countries have predominantly command economies?
North Korea and Cuba have command economies. Recently, China has implemented free market reforms into its economy, so it could be classified as a mixed command economy. Before its collapse in 1991, the USSR could also be considered a command economy.
What countries have a command economic system?
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
Why does Russia have a command economy?
The so called command economy of China is based on the reality that all major economic issues are decided upon by the Communist party leaders of this country.
Is china a market command or mixed economy?
It was a command but now it is slowly moving to be a market.
Does China have a market economy?
No, china does not have a market economy!
Who changed China's economy from command to free market economy?
Although China is not yet considered to have a fully-fledged free market economy, Deng Xiaoping is credited with having enacted many economic reforms that helped push China in that direction.
Which countries have predominantly command economies?
North Korea and Cuba have command economies. Recently, China has implemented free market reforms into its economy, so it could be classified as a mixed command economy. Before its collapse in 1991, the USSR could also be considered a command economy.
What countries have a command economic system?
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
Why does Russia have a command economy?
The so called command economy of China is based on the reality that all major economic issues are decided upon by the Communist party leaders of this country.
What are some examples of nations who use command economy market economy and traditional economy?
Examples of countries that use a command economy are the following: China Cuba Examples of countries that use a market economy are the following: United States Canada Assuming you mean a socialized economy by way of traditional economy, below are examples of some countries that use a socialized economy Italy France Please keep in mind that no country is an absolutely pure version of each type of economy. You could say the United States, for example, shows elements of a socialized economy with its employment of social security and medicaid. You could also say that Cuba, shows elements of a market economy. Even, North Korea, which would be considered one of the most extreme examples of a command economy still has "free enterprise zones" and has condoned (or at least not quickly repressed) a healthy black market for goods and services...the black market being its own market economy.
Is China part of the command economy?
AnswerChina is no longer a command economy in that it has switched to market economic strategies in several of its sectors. Due to this, China is now a mixed economy.However, Saudi Arabia and Vietnam are some examples of a command economy. has also changed back in 2000
What type of economy is China?
market economy
Is China's economy a market or command?
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.
What was China's Economy before it was a market economy?
social economy
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.
