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What factors and resources does the government own in a centrally planned economy?
Wiki User
∙ 9y ago
The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
Wiki User
∙ 9y ago
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In a market economy what are the most important factors affecting scarcity?
C) the degree to which the government is involved in the allocation of resources.
When is the allocation of resources in an economy considered to be inefficient?
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.
What are the factors of production in a command economy?
the government dose
Who controls the factors of production in a capitalist economy?
The capitalist class.
What is the best description of macroeconomics?
The study of economics from a broad perspective of the resources and factors of production in an economy
In a market economy what are the most important factors affecting scarcity?
C) the degree to which the government is involved in the allocation of resources.
When is the allocation of resources in an economy considered to be inefficient?
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.
What are the factors of production in a command economy?
the government dose
What is the description of macroeconomic?
The study of economics from a broad perspective of the resources and factors of production in an economy
Who controls the factors of production in a capitalist economy?
The capitalist class.
What is the best description of macroeconomics?
The study of economics from a broad perspective of the resources and factors of production in an economy
In the circular flow of the economy what do households do?
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.
What are the key factors for participation in the information economy on a global basis?
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.
What are the key factors for participating in the information economy on a global basis?
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.
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.
Who owns and controls the factors of production in a mixed economy?
both the government and private sectors
What is one aspect of a country that may be more important to its world standing than size?
There are several:Natural resourcesLocationStrong leadersSuccessful government
