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What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
How are economic decisions made in a command economy?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
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.
What is An economic system in which the government makes all economic decisions?
it's called a command economy
In which economic system does the government make most economic decisions?
command economy
What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
How are economic decisions made in a command economy?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
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.
What is An economic system in which the government makes all economic decisions?
it's called a command economy
In which economic system does the government make most economic decisions?
command economy
What is system in which the major economic decisions are made by the central government?
Command economy
What makes the most economic decisions in a command economy?
government policies
An economy in which the central government makes all the decisions about a country's economic policies?
This is a form of planned economy which is called a command economy. Command economies are central to the ideology of socialism.
What kind of economic system does a communist government have?
Communist governments use what is known as a command economy. In a command economy, the government owns everything, employs everyone, and makes all economic decisions.
In a command economy how are decisions made?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
In a command how are economic decisions made?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
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.
