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Firms produce many goods in the free market system based on need and the ability to make profits. In what situation would a government provide a good rather than a private firm?
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How are the three basic economic questions answered in the united stated be specific?
What to produce, how to produce it, and who to produce it for (the 3 economic questions) are answered primarily by private companies in the U.S. Rarely does the government intervene in private sector production.
Who owns the property in a centrally planned economy?
It is not necessarily fixed as to who has titular ownership of capital in a planned/command economy. Ownership of capital can reside in either private entrepreneurs or in government-owned industries; a number of planned/command economies allowed for a degree of private property ownership. However, the fundamental basis of control, such as decisions about what to produce and the quantity to produce, are vested exclusively in the government. In planned/command economies, the government can literally order private factories to make products that do not have a large market desirability and to avoid producing products that have large demand.
An economy where the government decides what to produce and how to produce it?
Controlled
Which type of economy does the government decide what to produce how to produce and for whom to produce?
Controlled.
What is the characteristics of mixed economic system?
# The private sector controls some part of natural resources and the government controls the other # The government plays an important role in resolving economic problems faced by society # Private ownerships and governments cooperate to produce goods and resolve together fundamental economic problems # The government also provides services such as education, health, military defense, legal and infrastructure to society. # The government influence in determining the goods to be produced.
How are the three basic economic questions answered in the united stated be specific?
What to produce, how to produce it, and who to produce it for (the 3 economic questions) are answered primarily by private companies in the U.S. Rarely does the government intervene in private sector production.
How private sector is better?
Private sector's purpose is to produce; the public sector's purpose is to control, not to produce.
What of the following best explains why government tax money is not used to produce most consumer goods?
Consumer goods are made by private industries.
Why isn't government tax money not used to produce most consumer goods?
Consumer goods are made by private industries (study island) Walter Was Here!
What were factors of production that helped produce an industrial revolution in Great Britain?
-exploration and colonialism-sea power-political stability-government support-growth of private investment
What contributed to early people's ability to produce food?
The ability to make fire!!
Who owns the property in a centrally planned economy?
It is not necessarily fixed as to who has titular ownership of capital in a planned/command economy. Ownership of capital can reside in either private entrepreneurs or in government-owned industries; a number of planned/command economies allowed for a degree of private property ownership. However, the fundamental basis of control, such as decisions about what to produce and the quantity to produce, are vested exclusively in the government. In planned/command economies, the government can literally order private factories to make products that do not have a large market desirability and to avoid producing products that have large demand.
What special ability of a firefly?
To produce light
The loss of the ability of the larynx to produce normal speech sounds is known as?
The loss of the ability of the larynx to produce normal speech sounds is known as aphonia.
What does Guam produce?
Guam's main economic revenue is from tourism, mainly from Japan... and construction resulting from tourism and the military. The biggest employer on Guam is local government, then the private sector.
What contributed most to early peoples ability to produce food?
The ability to make fire!!
Why is government tax money is not used to produce most consumer goods?
Consumer goods are made by private industries.Consumer goods are paid for by private businesses that are trying to make a profit. Taxes instead go toward government programs and services. One reason for this is that the government does not generally charge money for its services (like a police force), so people instead pay taxes to maintain them.
