The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
C) the degree to which the government is involved in the allocation of resources.
when total resources in an economy is not equally allocated among four factors of production i.e land, labor, capital and organization then allocation of resources in an economy considered to be inefficient.
the government dose
The capitalist class.
The study of economics from a broad perspective of the resources and factors of production in an economy
C) the degree to which the government is involved in the allocation of resources.
when total resources in an economy is not equally allocated among four factors of production i.e land, labor, capital and organization then allocation of resources in an economy considered to be inefficient.
the government dose
The study of economics from a broad perspective of the resources and factors of production in an economy
The capitalist class.
The study of economics from a broad perspective of the resources and factors of production in an economy
Allow Financial sector to hold savings. Pay tax (direct & indirect) to the Government. Spend on consumption, which goes to Producers. Provide factors of production / resources to Producers.
The transition requires that the rules and practices that determined success in the industrial economy need rewriting in an interconnected, globalized economy where knowledge resources such as know-how and expertise are as critical as other economic resources.
The transition requires that the rules and practices that determined success in the industrial economy need rewriting in an interconnected, globalized economy where knowledge resources such as know-how and expertise are as critical as other economic resources.
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.
both the government and private sectors
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.