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What circular flow models assumes the economy consists of which sectors?

households and firms


What are the 3 basic economic system models?

The 3 basic economic system models are mixed economy, command economy, and free-market economy. In a mixed economy recourse are owned publicly and privately while in a command economy resources are owned by the government.


What is the difference between grey and green economy?

A "gray (or grey) economy" or "gray market" is a part of the economy that is not fully accounted for in official accounting or statistics. It is a type of secondary market that was not the original intention of the manufacturer or buyer. It is similar to a "black market," only not illicit.A "green economy" is an economy that takes into account ecological and environmental factors. It attempts to offset the negative effects of human activities, tries to steer away from models based on fossil fuels, and focus on things like renewable energy.


What combines the elements of pure economic systems?

A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.


What are other names for a planned economy?

In Continental Europe, the term "social market economy" or "Rhine capitalism" is generally used to refer to the mixed-market economic models used by those countries. In the United States, United Kingdom, Canada and Australia, the type of capitalism is sometimes called the "Anglo-Saxon model", which is a type of mixed economy skewed more toward free-markets than the Continental European model of capitalist mixed economy. The modern economic model in the People's Republic of China is considered to be a mixed-market economy. Officially, the name for this system is a "socialist market economy", but economists usually label it "state capitalism" instead.

Related Questions

What circular flow models assumes the economy consists of which sectors?

households and firms


What are the 3 basic economic system models?

The 3 basic economic system models are mixed economy, command economy, and free-market economy. In a mixed economy recourse are owned publicly and privately while in a command economy resources are owned by the government.


What are the different Keurig 2.0 models available in the market?

The different Keurig 2.0 models available in the market include the K200, K250, K350, K450, K550, and K575.


How many different models of phones are on the android market?

20


Models need to be changed when?

Models need to be changed as often as deemed necessary by the market. Different types of models need to be changed at different times.


What are some good brands in the budget HD TV market?

Some good brands in the budget HDTV market are Sony, Panasonic, Philips, Toshiba, Sharp and Apex. The price of HDTV models is different for different models.


What political models does china follow?

Although China has a state directed economy, they show free market tendencies. Scholars now maintain that China has developed a State Capitalist economy.


What is the difference between grey and green economy?

A "gray (or grey) economy" or "gray market" is a part of the economy that is not fully accounted for in official accounting or statistics. It is a type of secondary market that was not the original intention of the manufacturer or buyer. It is similar to a "black market," only not illicit.A "green economy" is an economy that takes into account ecological and environmental factors. It attempts to offset the negative effects of human activities, tries to steer away from models based on fossil fuels, and focus on things like renewable energy.


What combines the elements of pure economic systems?

A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.


What are other names for a planned economy?

In Continental Europe, the term "social market economy" or "Rhine capitalism" is generally used to refer to the mixed-market economic models used by those countries. In the United States, United Kingdom, Canada and Australia, the type of capitalism is sometimes called the "Anglo-Saxon model", which is a type of mixed economy skewed more toward free-markets than the Continental European model of capitalist mixed economy. The modern economic model in the People's Republic of China is considered to be a mixed-market economy. Officially, the name for this system is a "socialist market economy", but economists usually label it "state capitalism" instead.


Which models are the most fuel efficient cars?

The most fuel efficient vehicles on the market today are usually hybrids. However, many small and economy sized vehicles on the market are not hybrids but are very fuel efficient as well.


What are the uses of general equilibrium?

General equilibrium theory is used in economics to analyze the interactions between different markets in an economy and the concept of market clearing where supply equals demand. It helps to understand the overall efficiency and distribution of resources in an economy, as well as the impact of different policies or shocks. General equilibrium models are also used to study trade policies, tax reforms, and other macroeconomic phenomena.