0
Mr Gerrard..... well what can i say about him??
in simple terms he is probably the best teacher ever.
What else can I help you with?
What is Difference between pure market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication
How are the goods and services allocated?
Goods and services are allocated through various mechanisms, primarily market economies, command economies, and mixed economies. In market economies, allocation is determined by supply and demand, where prices signal to producers and consumers how much to produce and consume. In command economies, the government makes decisions about allocation based on central planning. Mixed economies utilize a combination of both market and government interventions to achieve efficient allocation.
What do you call the way people produce and exchange goods and services?
The way people produce and exchange goods and services is called an economy. It encompasses the systems and processes through which resources are allocated, products are created, and transactions occur. Economies can be organized in various forms, such as market economies, command economies, or mixed economies, depending on the degree of government intervention and market regulation.
How are resources allocated in mixed economies?
Some decisions are taken by the households ad firms, like in a free market economy. Whilst some decisions and resource allocation policies are set by the government.
What single factor determines how resources are allocated in a market?
Resource Pricing
How are traditional economies resources allocated?
It is allocated according the market equilibrium which is subjected to the changing market demand and market supply.
How are resources allocated in traditional economy?
It is allocated according the market equilibrium which is subjected to the changing market demand and market supply.
What is Difference between pure market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication
How are the goods and services allocated?
Goods and services are allocated through various mechanisms, primarily market economies, command economies, and mixed economies. In market economies, allocation is determined by supply and demand, where prices signal to producers and consumers how much to produce and consume. In command economies, the government makes decisions about allocation based on central planning. Mixed economies utilize a combination of both market and government interventions to achieve efficient allocation.
What do you call the way people produce and exchange goods and services?
The way people produce and exchange goods and services is called an economy. It encompasses the systems and processes through which resources are allocated, products are created, and transactions occur. Economies can be organized in various forms, such as market economies, command economies, or mixed economies, depending on the degree of government intervention and market regulation.
How are resources allocated in mixed economies?
Some decisions are taken by the households ad firms, like in a free market economy. Whilst some decisions and resource allocation policies are set by the government.
What single factor determines how resources are allocated in a market?
Resource Pricing
All large modern economies have become mostly market economies because market economies provide?
the most efficient use of resources in producing what people want
How does resources allocated in the free market economy?
well in simple terms........ if you dont do it you will get a zero!!!!
Explain how the market system allocates scarce resources?
Scarce resources are usually allocated to a given market system based on the demand. In most cases the resources are usually assigned to markets that have a great demand.
Compare the three economy questions to command economy market economy and traditional economy?
traditional economy: resources are allocated based on custom and traditionmixed economy:resources are allcoated based on mixed informtion given.command economy: resources are allocated by the government or other central authoritymarket economy: resources are allocated by individualsCommusim
How are resources allocated under a capitalistic economy?
By the market mechanism...where they will be used most efficiently by those who can pay the price at equilibrium
