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How does a command economy answer the question of what to produce?
A command economy answers the question of what to produce through the government. It is the role of the government to make key critical decisions in the economy.
What is the difference between market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication link between producer and consumer can be direct. In a command economy, resources are allocated to the production of goods and services on the basis of decisions made by government technocrats, usually based on directives from a centralized political body anticipating the needs, and possibly wants, of the nation and its citizenry. The communication link between producer and consumer is routed through and interpreted by technocrats, who are often employed by politicians that may or may not have been elected by the citizenry (consumers).
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What is the difference between a market economy and a command economy?
An economy may be defined as the state of a country or region in terms of the production and consumption of goods and services, and the supply of money. A market economy (also called a free market economy, free enterprise economy) is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system . On the other hand, a command economy (also known as planned economy) is an economic system in which the state or government controls the factors of production and makes all decisions about their use and about the distribution of income
How does a command economy answer the question of what to produce?
A command economy answers the question of what to produce through the government. It is the role of the government to make key critical decisions in the economy.
Suppose there is a country in economic ruin after World War 2. It is seeking monetary aid from a world superpower. The country supports a command economy and opposes democracy. What is the country mos?
The country in this scenario is likely the Soviet Union. They had a command economy and were opposed to democracy, seeking aid from the United States after World War 2 through programs like the Marshall Plan.
What is a direct democracy about?
Direct democracy allows citizens to make policy decisions through a majority vote. In contrast, representative democracies allow citizens to elect representatives to make policy decisions for them.
Who determines what goods are produced in a market economy?
The Market(consumers... through their decisions) does it.
What is a direct democaracy?
A direct democracy is a form of government in which citizens participate directly in decision-making processes, rather than through elected representatives. This can involve voting on specific policy issues or laws through referendums or other mechanisms, instead of relying on representatives to make decisions on their behalf.
What is the difference between market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication link between producer and consumer can be direct. In a command economy, resources are allocated to the production of goods and services on the basis of decisions made by government technocrats, usually based on directives from a centralized political body anticipating the needs, and possibly wants, of the nation and its citizenry. The communication link between producer and consumer is routed through and interpreted by technocrats, who are often employed by politicians that may or may not have been elected by the citizenry (consumers).
Does liberalism undermine or promote democracy?
Socialism can promote democracy, but it ultimately depends on the type of socialism we are talking about. Traditionally, socialism promoted economic democracy, which means equal power relations and collective-decision making in the workplace. This may have taken the form of direct democracy on the part of each worker, or it might have meant democratically electing management. This type of democracy is still promoted by modern day market socialists and advocates of decentralized planned economies. If we are talking about the type of socialism that existed in the Soviet Union and "Communist states", then many political scientists would say no, this type of socialism did not promote democracy. The Soviet Union had a command economy, where decisions were made in a hierarchical chain-of-command. Ironically, the Soviet model of "socialism" was inspired by capitalist management practices known as Taylorism and scientific management.
Which type of democracy do the people make decisions themselves?
Direct democracy is a form of democracy where citizens directly participate in decision-making processes, voting on policies and laws themselves rather than through elected representatives.
New England town meetings are commonly cited as the closest approach in America to?
Direct democracy, as they allow citizens to come together to make decisions on local issues through open discussion and voting.
What is Aristotle's definition for democracy?
Aristotle defined democracy as a system of government where power is vested in the hands of the people as a whole, or in a significant portion of them, through a voting process to make decisions for the common good.
How are decisions made in an indirect democracy?
In an indirect democracy, decisions are made through elected representatives who act on behalf of the people. These representatives gather input from their constituents, debate legislative proposals, and ultimately vote on laws and policies. The decision-making process involves a balance between representing the will of the people and using their own judgment and expertise.
Why is democracy the government by the many?
Democracy is a form of government where the "majority rule". This means that the people have a say in the decisions made, whether directly or indirectly (through elected representatives). because is the onlt way to share power
