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Does Peru use free market economy command economy or mixed economy?
Wiki User
∙ 13y ago
Wiki User
∙ 8y agoyes it does a mixed economy
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What five countries use free market economy system?
There are several countries that use a free market economy system. The following list contains five of these countries, Brazil, Peru, India, the United Kingdom, and Kenya.
What country in Pacific South America has the healthiest economy?
Peru
What is the economy like in peru?
Peru has a good economy. Peru exportspetroleum zinc, silver, lead, tin, copper, iron ore, gold ,cement, cotton, sugar, rice, and coffee
What are some economic choices people and producers in the US are free to make?
The term free market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. In a way, free market gives the absolute power to prices to determine the allocation and distribution of goods and services. These prices, in turn, are fixed by the forces of supply and demand of a respective commodity. In cases of demand falling short of the supply of a respective commodity, the price will fall as opposed to a price rise when the supply is inadequate to meet the growing demand of a good or service. Free market economy is also characterized by free trade without any tariffs or subsidies imposed by the government.The role of the government of a nation is only limited to controlling the law and order of a country and to ensure that a 'fair price' is charged by the sellers. That is to say, the government, having no role in administering the price of a commodity, has to see that the prices taken by the sellers is true and commensurate with the price determined by the forces of demand and supply.The basic feature of the free market economy is that only people with sufficient control over resources, and wealth, in particular have the privilege to purchase goods and services, often priced very highly in a free economy. Prices, which are the only allocating and distributing factor in a free market economy, place the poor in an unenviable situation who are gradually thrown out of the system without any access to wealth and the basic needs of subsistence.Thus it deems absolutely imperative that a country like India and a few Latin American countries like Brazil, Peru and Nicaragua having a large number of poor have a public distribution system in place with subsidized prices being fixed by the government to protect the poor. Free market economy is considered to the most efficient or optimum device to allocate a country's resources, with wealth or income being the only yardstick.Free market economy is often associated with a Capitalistic Economy with means of production being privately owned.
Explain how economic systems attempt to allocate and make effective use of resources?
An economic system is comprised of the various processes of organizing and motivating labor, producing, distributing, and circulating of the fruits of human labor, including products and services, consumer goods, machines, tools, and other technology used as inputs to future production, and the infrastructure within and through which production, distribution, and circulation occursThere are three kinds of economic system which are basically adopted by the different countries. They are: Free market, centrally planned, mixed market.1) Free market economic system:The intervention of government is kept at a minimum level or neglected in free market system and all the economics resources comes under the private sectors as well market. Price mechanism will determine how much of goods or services will be supplied according to the market demands. Most decisions are based on market mechanism. The supply, demand and ability play the vital role in market decision making. As per looking at the free market system it raises the various unsolved questions like who will produce the goods and services and infrastructures for the country to meet the needs of every public.2) Centrally planned economy system:Centrally planned economic system refers that government allocates the economic resources; government makes all the planning regarding the economical activities. Private sectors are kept far away in involvement of any economical accumulation. These kinds of economics were found in the Asian, central Europe, Eastern Europe and Latin American nations but now a days these are found in Cuba, Iraq, Iran, North Korea etc. In these systems basically unemployment problems will not be faced since government plan all the economical activities and resources will be allocated based needs of its people and different industries inputs.3) Mixed economy system:This system is a mixture of all other system. The system where both capitalism and socialism economic system are included it is known as mixed economic system. In this globalizing world most of the countries are obtaining this economic system. Mixed economic system splits the available economic resources available in the country to both private sectors and government. Private sectors are encouraged to get involved and participate in utilizing the resources which helps to gain economic profit for whole nation. Countries like USA, UK, Russia and China to countries like Cambodia, Peru and Vietnam has adopted this economic system. When one fails to meets the public desire other can get it and helps to maintain the economic balance not only in the particular country but also the whole nation.
What type of economy does Peru live in?
Peru has a market-based economy heavily influenced by foreign trade.
What five countries use free market economy system?
There are several countries that use a free market economy system. The following list contains five of these countries, Brazil, Peru, India, the United Kingdom, and Kenya.
What country in Pacific South America has the healthiest economy?
Peru
What is Peru's culture?
Racially mixed
What is the economy like in peru?
Peru has a good economy. Peru exportspetroleum zinc, silver, lead, tin, copper, iron ore, gold ,cement, cotton, sugar, rice, and coffee
Is Peru's economy strong or weak?
Peru has a good economy. Peru exportspetroleum zinc, silver, lead, tin, copper, iron ore, gold ,cement, cotton, sugar, rice, and coffee
Is Peru's economy in good shape right now?
No Peru had good economy all the the way up to 2008. For 7 years they had good economy but then the economy went bad in 2008. I don't know that economy rate is right now. But it is not there best.
Who own economy in Peru?
the top 10% of wealth
What descent control Peru and Ecuador economy?
incan
What are the challenges facing Peru's economy?
Hard to mine
Is Peru poor or prosperous?
Prosperours! Peru is now an up coming market and an excellent place to live and interesting target for investment !
What industries drive Peru's economy?
Type your answer here... THe industrys that drive the econmy for peru is the manufacturing industry that your mom gets f***** in the a** hole newtest3
