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His economic plan was known as "Shock therapy". This Move toward Capitalism caused suffering.
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Who make the decisions in a command economy?
In a command economy government planners make the decisions and in a market the decisions are made by individuals.
In what economy do individuals make their own decisions?
Free market economy
What policies did Boris Yeltsin made that changed Russia?
Boris Yeltsin made many reforums that helped Russia's economy
What year did Yeltsin announce plans to privatize the economy?
1999
Who makes decisions for a mixed economy?
Government officials and legislatures make economic decisions
What type of economy does individuals and private groups make decisions about what to produce?
Market economy
In a market or capitalist economy who makes the economic decisions?
The people in the market make these decisions on an individual basis.
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Types of economies?
TRADITIONAL ECONOMY decisions of what,how,for whom are determined by customs ,habits and rituals of the ancestors.people are not free to make decisions as t hey abide by the layd out customs. command economy where a central authority makes most of the decisions ie what,how and for whom decisions e.g the soviet union countries.market economy where by people &firms make for what,how &for whom decisions.
How the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
Government makes some economic decisions individuals and companies make other decisions?
Mixed economy.
Explain how the decisions you make as a consumer influence the economy?
everyone as a consumer affects the economy on what they spent and how they spent
