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Rule of force: There are no rules, and people simply take what they want by force.
First come-first served: Shoppers arrive when the store opens so they can buy all the goods on sale at low prices. This rule causes people to compete by waiting in line, with the competition favoring those who get in line first and wait the longest.
Government rules: The government decides who receives goods.
Markets: Firms compete for more customers and higher profits, workers compete for better jobs and larger incomes, and consumers compete by being willing to pay more for the products they value most.
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What does the government do in a socialist country?
Most countries that are declared as Socialist Countries such as Chile, Brazil, Sweden, and Finland are democracies. There are some socialist dictatorships such as Venezuela, Ecuador, and Peru.
What is allocated budgeting?
Allocated budgeting, otherwise known as "envelope budgeting", is a method of allocating funds as they become available into individual categories from which expenses are paid, as opposed to balancing a common pool into which income is deposited and from which expenditures are withdrawn in a reactionary manner.
Why do all countries not have equal currency?
Having a common currency requires some agreements between different countries; apparently, for this to work, it also requires individual countries taking certain steps to have a stable economy. All this is a bit tricky while there is no central world government; but there are already cases where several countries share a common currency; the best-known case is the Euro, used in most European countries. It can be expected that at some time in the future, all countries in the world will share a common currency, but this won't happen overnight.
What basic economic problem do both higher-income and lower-income nations have in common?
scarcity of resources
What is the difference between common resource and a public good?
Public goods are things which can be used by the masses without diminishing their value, such as street signs and clean air. They possess the principle of non excludability as well as are non-rival in consumption. i.e. you cannot exclude anyone from using them and the use of that commodity by one person will not reduce the availabilty of it for another person. With common resources, there is not enough to serve everyone equally. Common resources face the problems of congestion or overuse. Common resources include congested roads, fishing grounds and pastures. These common goods are rival in consumption. i.e. the use by one person will diminish the use of it by another. E.g. fishing in a lake by one individual will reduce the amount of fish available to another user. But both public goods and common resources are non-excludible, they are frequently overused.
What do the causascas countries have in common?
natural resources
What do the countries that border the Persian Gulf have in common?
They all have oil resources
What is a major resource in both Venezuela and Colombia?
There are many different resources that both Venezuela and Colombia have in common. Two major resources for these countries include coffee and oil.
What are two parts of culture that the countries of Central Asia have in common?
Climate and natural resources.
What are some common flood control methods?
Common flood control methods for countries and areas that are prone to floods include sandbags around the banks of the sea. Some places put their houses on sticks or wood, so if a flood occurs the house is higher.
What are Common methods for establishing a benchmark?
lesson 2 on problem solving. what are common methods for establishing a benchmark?
What are some natural resources that are common resources?
Some natural resources that are common resources are air, water, solar energy, wind, trees, and rocks.
What is a joint task force?
A joint task-force - is two or more countries or organisations providing man-power or resources fro a common goal.
What do 3rd world countries have in common with us?
They have people. They have culture, language and history. They have land and resources. They are connected to and interdependent with their neighbors. They have families, wants and needs.
What are common resources?
A common resource is something that is human made and natural. Water and a forest are examples of some common resources.
What resources do the eastern highlands and the Andes have in common?
they have 3 resources in common it is coal,gold and tin (:
Why does Ghana trade?
All countries, and Ghana is no exception, usually have local natural resources that are rare in other countries and lack some natural resources that are common in other countries. Trade involves selling things you produce to provide money to purchase things you lack. Humans have been doing this at a personal, national and global level since time immemorial.
