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glodor,metoer,zecram,and medaglia goro
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∙ 11y ago
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The three basic economic systems are?
Mixed free and planned ((;
What three basic questions do economic systems address?
Economists also study how economic systems address three basic questions: What shall we produce?; How shall we produce it?; For whom shall we produce it?
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
What do three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What do all three economic systems have in common?
Each system represents different answers to the four basic economic questions.
What are the three economic questions that economic systems must answer?
The 3 basic questions in economics are: What to produce? How to produce? For whom to produce?
What combines the elements of pure economic systems?
A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.
What three questions must all economic systems answer?
what three questions must all economic systems answer?
The economic system that answers the three basic economical questions according to social customs is called?
Traditional
Three types of economic systems?
There are many types of economic systems, but three of the most common are listed here.capitalist economic systemsocialist economic systemmixed economic system
What are the three types of economic systems?
The three types of economic systems are centrally planned, traditional, and free market (or capitalist).
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
