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How might a nation move from a command economy to a market economy?
Wiki User
∙ 6y ago
Nations are moving towards a market economy and away from the command economy because the market economy is more efficient and makes more people happy. A market economy has more protections in place for consumers.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoSome nations are moving away from a command economy and toward a market economy because it works better. There are more protections for consumers and some controls in place with a market economy.
Wiki User
∙ 12y agoBecause command economies are doomed to fail eventually.
Wiki User
∙ 9y agobasically so that other people can have a idea of wehat they are talking abou too
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What motivates people to work in a market economy?
In a market economy, people are motivated to work by self interest. In a command economy, such as that of North Korea, people are motivated by some combination of patriotism and fear. In a utopian community they might be motivated by idealism. Those are pretty much the only options.
A government that operates a market economy MIGHT become involved in the economy?
to provide public goods and services to its citizens.
How might the federal reserve to an overheated economy or boom?
The Federal Reserve respond to an overheated economy or boom by selling bonds in the open market.
How might the purchase decisions of consumers impact a market economy?
By buying some products, but not others, consumers might determine what is produced.
Why might a government intervene in the market economy?
Essentially, due to market failure of some type: the market does not efficiently allocate some desirable commodity and the government attempts to correct this misallocation.
What motivates people to work in a market economy?
In a market economy, people are motivated to work by self interest. In a command economy, such as that of North Korea, people are motivated by some combination of patriotism and fear. In a utopian community they might be motivated by idealism. Those are pretty much the only options.
A government that operates a market economy MIGHT become involved in the economy?
to provide public goods and services to its citizens.
Why might socialist have a less rigid command economy than a communist economy?
In a socialist society, various political systems may be combines with public control of the economy.
How might the federal reserve to an overheated economy or boom?
The Federal Reserve respond to an overheated economy or boom by selling bonds in the open market.
How might the federal reserve respond to the slowdown in the economy or recession?
By buying bonds in the open market
Why might socialist society have a less rigid command economy than a communist?
In a socialist society, various political systems may be combines with public control of the economy.
How might the purchase decisions of consumers impact a market economy?
By buying some products, but not others, consumers might determine what is produced.
Why might a socialists society have a less rigid command economy than a communist society?
In a socialist society, various political systems may be combines with public control of the economy.
Why might a socialist society have a less-rigid command economy than a communist society?
In a socialist society, various political systems may be combines with public control of the economy.
Why might a government intervene in the market economy?
Essentially, due to market failure of some type: the market does not efficiently allocate some desirable commodity and the government attempts to correct this misallocation.
How might the federal reserve response to a slowdown in economy or recession?
By buying bonds in the open market(correct answer for apex)
Why most countries are on a continuum between pure market and pure command?
A pure market economy invites abuse by plutocrats, and a pure command economy invites abuse by dictators; neither system in its pure form has a history of working successfully over any significant length of time. The mixed form allows for some opportunity to correct the problems of each system. Of course, with most economies of the world struggling at the present time (late 2011) one might argue that the mixed system hasn't worked too well, either. It may be that the human race has not yet figured out a good way to manage an economy.
