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There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
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Which of these is a correct description of one of the ways in which a command economy differs from a market economy?
In a command economy, individuals have less economic freedom.
In a global economy governments have less control over economic activity?
yes in a global economy government has less control over economic activity
What is meant by the term 'economic stagnation'?
The term 'economic stagnation' means a period of slow economic growth. Depending on the definition of the term, this means growth less than around 2% per year or significantly less than the growth predicted by experts. Causes can be poor economic policy, catastrophes and demographic developments.
Distinguish between withdrawals and injection expenditure in the economy by the Government?
withdrawals and injections are both a part of the circular flow of income. Injections are things that are providing finance or services into the economy for example exports. Withdrawals on the other hand are the things that are being taken out of the economy such as imports. If withdrawals are bigger then injections the country would be facing a deficit and negative economic growth. If withdrawals are less then injections then a country would be facing a budget surplus and economic growth.
Forecasts of economists have?
been less accurate than forecasts of economic growth
Which of these is a correct description of one of the ways in which a command economy differs from a market economy?
In a command economy, individuals have less economic freedom.
In a global economy governments have less control over economic activity?
yes in a global economy government has less control over economic activity
What is meant by the term 'economic stagnation'?
The term 'economic stagnation' means a period of slow economic growth. Depending on the definition of the term, this means growth less than around 2% per year or significantly less than the growth predicted by experts. Causes can be poor economic policy, catastrophes and demographic developments.
Distinguish between withdrawals and injection expenditure in the economy by the Government?
withdrawals and injections are both a part of the circular flow of income. Injections are things that are providing finance or services into the economy for example exports. Withdrawals on the other hand are the things that are being taken out of the economy such as imports. If withdrawals are bigger then injections the country would be facing a deficit and negative economic growth. If withdrawals are less then injections then a country would be facing a budget surplus and economic growth.
What does ledc stand for?
what does LEDC stand for?Less economy developed country
Forecasts of economists have?
been less accurate than forecasts of economic growth
If the US government took over the auto and steel industries how would this affect our economy?
our mixed economy would become less of a command and more of a traditional economy.
One effect of population growth in Mexico is?
If population growth outpaces economic growth, it leads to economic stagnation, less income and ultimately, poverty. As an example, Mexico grew from 83 million people in 1990 to 91 million in 1995. At the same time, the economy grew from US$262 billion to 287 billion. Income per capita in 1990 and 1995 would be: 1990: US$3,157 1995: US$3,153 This means that even if the economy grew at a solid 1.2% per year, the real per capita income decreased by almost 1% during those 5 years due to the population growth outpacing economic growth.
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.
What is the distinction between economic wants and economic needs?
economic wants is something the economy wants as an extra An economic need is something wither a object or servise for the economy to survive! Hope this helps! :)
What are the disadvantages of economic integration in international trade?
Before I answer this question, I want to pose another question. What will happen when the growth of a nation's economy cannot be independent? On a globalization background today, the hidden part of high efficiency of economy is risk. Economic integration can be considered as one form of globalization. It makes a nation's government less intervene in market economy. It seem everything depending on market. And this market is just like a moving chain, when two are disconnected, the whole cannot work. This is the starting point of economic problems in economic integration, and even in globalization.
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.
