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What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
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.
What groups of players make all of the economic in a free market system?
The consumers make all decisions in a free market economy
Who made all economic decisions?
Economic decisions can be made by various entities depending on the context. In a market economy, individual consumers and businesses make decisions based on supply and demand. In a command economy, the government or central authority typically makes all economic decisions. In mixed economies, a combination of both market forces and government regulations influences economic decision-making.
How does game theory, specifically the Prisoner's Dilemma, play a role in understanding the economic decisions made by individuals and organizations?
Game theory, particularly the Prisoner's Dilemma, helps in understanding how individuals and organizations make economic decisions by analyzing strategic interactions where the outcomes depend on the choices of all parties involved. In the Prisoner's Dilemma, individuals must decide whether to cooperate or act in their own self-interest, leading to insights on how incentives, trust, and cooperation influence decision-making in economic scenarios.
What groups of players make all the economic decisioins in a free-market system?
The consumers make all decisions in a free market economy
An economic system in which the central government directs all major economic decisions?
an economic system in which the central government directs all major economic decisions
Who argued that individuals should own and control businesses and make all the decisions about them?
Adam Smith. CAVA
Who argued that individuals should own and Control businesses and make all the decisions about them.?
Adam Smith. CAVA
Who makes Cuba's economic decisions?
the government makes all the decisions, he is a dictator
What type of economy is it where all economic decisions are based on age-old customs?
A traditional economy is where all economic decisions are based on age-old customs.
Who makes economic decisions?
the government makes all the decisions, he is a dictator
