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Of the 4 economic systems the one that is most directly involved with the government is command economy. The definition of command economy is an economy where supply and price are regulated by the government rather than market forces. Government planners decide which goods and services are produced and how they are distributed.
Distinguish between economics activities and economics system
there is no such thing as political economic systems, there are only economic political systems
why dp cultures develop economic systems
prevailing economic systems
Of the 4 economic systems the one that is most directly involved with the government is command economy. The definition of command economy is an economy where supply and price are regulated by the government rather than market forces. Government planners decide which goods and services are produced and how they are distributed.
where will the good be produced
Refering to the economic system it means that there is government ownerships and a central planning board.
Which goods should be produced? How will the goods be produced? For whom will the goods be produced? How much goods should be produced? At what rate will the goods depreciate? A+
Distinguish between economics activities and economics system
there is no such thing as political economic systems, there are only economic political systems
the political and economic systems were based on a strong central government.
why dp cultures develop economic systems
One way to define economic systems is to classify them according to whether they are market systems or command systems.
1. What goods and services should be produced? (goverment,producer, consumer) 2. How should these goods and services be produced? (goverment, producer, consumer) 3. For whom should the goods and services be produced?(goverment, producer, consumer)
prevailing economic systems
Capitalists economic system