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Would you expect new and better machinery and equipment to be adopted more rapidly in a market economy or in a centrally planned economy?
Market economy
Why are the nations with centrally planned economies sometimes slow to succeed when they privatize industry?
A highly organised centrally planned economy will be a lot more efficient than a new and disorganised market economy, as it takes time for consumers to reveal their preferences, industry to make investment and products to be produced at rates which are efficient.
Is New Zealand a traditional economy?
NO. New Zealand is a modern capitalist economy.
What might be a hardship for citizens of a centrally planned economy making a trasition to a free market economy?
Workers would lose job security and guaranteed incomes.
Who benefits and who suffers most from a centrally planned economy?
Who benefits:The Central Planners -- all of those bureaucrats are employed with the purpose of creating the central planning and, as a result, their very livelihood exists only by dint of the planned economy.Black Market Smugglers -- Black Market Smugglers get much more traffic for needed goods if the economy cannot anticipate people's needs and this happens very commonly in planned economies.Who suffers: Everyone ElseEntrepreneurs are banned from starting new businesses that sell their own products.Businesses have product overflows in some categories and shortfalls in many others.Common people cannot buy everything that they may need or want.
Would you expect new and better machinery and equipment to be adopted more rapidly in a market economy or in a centrally planned economy?
Market economy
Why are the nations with centrally planned economies sometimes slow to succeed when they privatize industry?
A highly organised centrally planned economy will be a lot more efficient than a new and disorganised market economy, as it takes time for consumers to reveal their preferences, industry to make investment and products to be produced at rates which are efficient.
What might be a hardship of a centrally planned economy making a transition to a market based system?
i think its, enterepreneurs would have fewer opportunities to start new businesses.
What is the mixed econmomy in Russia?
This was suggested and started by Stalin. And it is still continuing. And today's countries like Austraila, New zealand and candada have mixed economy. Mixed economy is when market economy + planned economy.
Is New Zealand a traditional economy?
NO. New Zealand is a modern capitalist economy.
Is New Zealands economy mainly industrial?
No. New Zealand's economy is mainly agricultural.
What might be a hardship for citizens of a centrally planned economy making a trasition to a free market economy?
Workers would lose job security and guaranteed incomes.
The economy of New Zealand relies primarily on what?
New Zealand's economy has received recent boosts from good weather combined with high prices for their exports. Good weather has also helped crops, which gave a boost to the economy.
What lord of the ring prequel is planned to be filmed in New Zealand?
The Hobbit films.
What is the nature of the economy of New Zealand?
New Zealand is a small group of islands to the east of Australia. It has a mixed economy. Traditionally New Zealand could be describes as an economy based on farm products. This nation has expanded from that to host more industry to better compete on a global basis. Exports of New Zealand include dairy products, machinery and wood products. It also export meat products.
Why does New Zealand have a market economy?
The Economy of New Zealand is a market economy which is greatly dependent on international trade, mainly with Australia, the United States of America, China and Japan. It is strongly dependant on tourism and agricultural exports, and has only small manufacturing and high-tech components
How have changes in world trade patterns affected new zealand economy?
The creation of the EU has forced New Zealand to search out new markets for their products. New Zealand has turned increasingly to Asia and the United States for trade...
