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in the current worlds economic system, nearly every household object is produced for sale. Things from food such as wheat and various meats, to the technological goods including Apple products, and Microsoft products. But generally speaking this question is not very specific and theoretically the goal for all economies in individual nations is to produce as much reasorces as possible in order to produce as much capitol (money) to increase the current standard of living.
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∙ 11y ago
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What is an economic system in which the government decides what will be produced how it will be produced who gets what is produced and who owns and controls the major factors of the production?
Command economy. wrooooooong!
What is a command economic system is characterized by?
A command economic system is one in which people rely on the government to decide what products will be produced and who the products will be distributed to after they are produced.
Mixed-market economic system who determines what products should be produced and how they should be produced?
Producers. A+
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
In a traditional economic system which type is most often produced?
Agricultural products
What is an economic system in which the government decides what will be produced how it will be produced who gets what is produced and who owns and controls the major factors of the production?
Command economy. wrooooooong!
What is a command economic system is characterized by?
A command economic system is one in which people rely on the government to decide what products will be produced and who the products will be distributed to after they are produced.
Mixed-market economic system who determines what products should be produced and how they should be produced?
Producers. A+
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
In a traditional economic system which type is most often produced?
Agricultural products
What are the four fundamental economic questions?
What goods and services will be produced?How will the goods and services be produced?Who will get the goods and services?How will the system accomodate change?
What are the five problems all economic system face?
Which goods should be produced? How will the goods be produced? For whom will the goods be produced? How much goods should be produced? At what rate will the goods depreciate? A+
What is the importance of economic system?
The importance of an economic system is that the economic system runs the civilization. This system forms the civilization and shows what people value. This helps decide what should be produced,how much something is worth, and keeps business at a supply and demand routine. Hope my answer helped :) Peace!
What are the three fundemental questions that every economic system must answer?
what to produce. how to produce. who gets it
In a market system who decides what is produced?
The whole point of the free market is that everybody gets to make their own economic decisions, since the economy is not run by any central planner as in a communist system. So if someone wants to produce something, they do. If they don't want to, they don't.
What is the difference between economic systems and economic activities?
Distinguish between economics activities and economics system
What are five basic economic questions?
1 - What goods and services will be produced? 2 - How will the goods and services be produced? 3 - Who will get the goods and services? 4 - How will the system accommodate change? 5 - How will the system promote progress?
