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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
What are two kinds of economic systems?
Market Economy: Resources are publicly owned, consumers decide how resources are allocated. Command Economy: Resources are publicly owned, government decides how resources are allocated.
What economic system does Libya use?
Libya has a command economy. Also known as controlled or planned economy. This is where a government retains the power to decide how the nations economic resources should be allocated. It has complete control over how theses resources are used.
Which economy exist when resources are allocated by the government or other central authority?
planned economy exists
Who controls natural resources in a command economy?
Those that have the resources
How are resources allocated in command economy?
this is impossible to answer and a crazy one
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
What are two kinds of economic systems?
Market Economy: Resources are publicly owned, consumers decide how resources are allocated. Command Economy: Resources are publicly owned, government decides how resources are allocated.
What economic system does Libya use?
Libya has a command economy. Also known as controlled or planned economy. This is where a government retains the power to decide how the nations economic resources should be allocated. It has complete control over how theses resources are used.
Which economy exist when resources are allocated by the government or other central authority?
planned economy exists
Who controls resources in a command economy?
Those that have the resources
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.
Who controls natural resources in a command economy?
Those that have the resources
In a command economy the government does not do?
Allocate resources.
In a command economy what does the government do?
Allocate resources.
in a command economy the government do not do?
Allocate resources.
In command economy the government does not do what?
Allocate resources.
