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People are less likely to be creative if people are telling them what and how to work. Even though China is a successful command economy, for the most part command economies do not have a higher GDP. A healthy government allows people to higher standard of living which affects education, living standards, literacy, health, and most importantly for this question, GDP.
What else can I help you with?
What are the top three economies in the world?
Here are the top 3 economies as of 2009... 1. China ( Approximate GDP- $7,043,000,000,000 ) 2. Japan ( Approximate GDP- $4,305,000,000,000 ) 3. India (Approximate GDP- $2,965,000,000,000 )
What are the econimes market and command?
what are command economies
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
What connections if any do you see between th e type of economy and the level of GDP per capita?
The type of economy significantly influences the level of GDP per capita, as economies based on advanced industries and services typically generate higher productivity and income compared to those reliant on agriculture or low-skilled labor. For instance, developed economies with robust technological sectors often exhibit higher GDP per capita due to innovation and efficiency. Conversely, developing economies may struggle with lower GDP per capita due to limited access to resources, education, and infrastructure. Thus, the economic structure directly impacts overall economic output and individual wealth.
How are standard of living and GDP related?
Usually, the higher the GDP, the higher the standard of living.
What do command economies emphasize?
Command economies emphasize government allocation of production.
What are the top three economies in the world?
Here are the top 3 economies as of 2009... 1. China ( Approximate GDP- $7,043,000,000,000 ) 2. Japan ( Approximate GDP- $4,305,000,000,000 ) 3. India (Approximate GDP- $2,965,000,000,000 )
What are the econimes market and command?
what are command economies
Are command economies dictatorships?
no
What are the three main types of economies?
Command, traditional, and market economies
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
How does literacy rate impact a GDP?
the GDP does not affect the literacy rate. The literacy rate affects the GDP. normally the higher the literacy rate, the higher the GDP, but not always. Some countries can have a very high literacy rate, but not a high GDP. but most of the time the higher the literacy rate, the higher the GDP and standard of living.
What connections if any do you see between th e type of economy and the level of GDP per capita?
The type of economy significantly influences the level of GDP per capita, as economies based on advanced industries and services typically generate higher productivity and income compared to those reliant on agriculture or low-skilled labor. For instance, developed economies with robust technological sectors often exhibit higher GDP per capita due to innovation and efficiency. Conversely, developing economies may struggle with lower GDP per capita due to limited access to resources, education, and infrastructure. Thus, the economic structure directly impacts overall economic output and individual wealth.
How are standard of living and GDP related?
Usually, the higher the GDP, the higher the standard of living.
Is the US GDP in the trillions or billions?
The US GDP is in the trillions. As of 2023, the nominal GDP of the United States is estimated to be over $25 trillion. This places it among the largest economies in the world.
What kinds of economies did Eastern European countries have before the fall of communism?
command economies
Is China ranked in the top 10 economies rated by GDP?
According to the United Nations, China is one of the top 10 economies rated by GDP. In fact, they are second behind the United States and one position ahead of Japan.
