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What economic characteristics does a centrally planned economy oppose that a market economy encourages?
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∙ 7y ago
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What is a centrally planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
Who answers the key economic questions in a centrally planned economy.?
the government
What is the economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
a centrally planned economy
In a traditional economy what are the economic decisions based largely on?
In a traditional economy the economic decisions are largely based on custom. In all centrally planned economies the government makes all important economic decisions.Ê
Characteristics of centrally planned economy?
government ownership and control, equality (collective)
What is a centrally-planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
What is a centrally planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
An economy in which only the government makes economic decisions is a?
Centrally Planned Economy
Who answers the key economic in a centrally planned economy?
the government
Who answers the key economic questions in a centrally planned economy.?
the government
What is the economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
a centrally planned economy
What are characteristics of a socialist economy?
It is 1) Nationalism, 2) Public welfare, 3)Taxation and 4) Centrally planned economy
In a traditional economy what are the economic decisions based largely on?
In a traditional economy the economic decisions are largely based on custom. In all centrally planned economies the government makes all important economic decisions.Ê
Characteristics of centrally planned economy?
government ownership and control, equality (collective)
In a centrally planned economy the three key economic questions are answered by the what?
central government alone
In a centrally planned economy the three key economic questions are answered by the .?
central government alone
What is centrally planned economy with all economic with all economic and political power resting in the hands of the central government?
A centrally planned economy with all economic and political power resting in the hands of the central government is known as communism. Karl Marx developed communism into a scientific theory.
