0
These questions are the basic economic questions to which all economies strive to answer. This is because there are a limited resources available and unlimited human wants, this situation is referred to as scarcity. Thus it is because of scarcity that it is very important that we carefully allocate the limited or scarce resources available to us . For if we don't, we'll die out even sooner. Watch "Doomsday."
What else can I help you with?
Supporters of command economies claim that firms in market economies do not produce the goods and services wanted by the poor because?
firms produce only what people with money want and need.
What is one advantage localized economies may have over more globalized economies?
Answer this question… Localized economies give communities more control over the goods and services they produce.
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.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
Supporters of command economies claim that firms in market economies do not produce the goods and services wanted by the poor because?
firms produce only what people with money want and need.
What is one advantage localized economies may have over more globalized economies?
Answer this question… Localized economies give communities more control over the goods and services they produce.
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.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
Why was slavery so important to the economies of South Carolina and Georgia in the 1700s?
They used a slave-plantation system, in which slaves were responsible for labor to produce crops; crops fueled their economies.
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 is centrally planned socialism?
A command economy is one where the government decides what to produce, how to produce it, and who to produce it for. Socialism in its entirety is a command economic system. The term 'centralized' is synonymous with 'command' when it comes to types of economies.
In what circumstances is an economy said to have a comparative advantage in producing a particular good?
An economy is said to have a comparative advantage in producing a particular good when it can produce that good at a lower opportunity cost compared to other economies. This means that the economy can produce the good more efficiently or with fewer resources, allowing it to specialize in producing that good and trade with other economies for mutual benefit.
Most economies today are economies?
all economies today are actually (mixed)
What economics and political symtem have evolves to answer the basic questions of economics?
The three economic questions are:What to produce, how to produce, and for whom to produce.There are three main systems that have developed to answer those questions:Traditional economies (economies that answer those questions the same way as their ancestors did) examples are Native American cultures and African tribes.Market economies (where consumers decide what, the producers decide how, and price and income decide for whom) example = JapanCommand/ centrally planned economies (the government decides the answers to these questions) example = USSR and ChinaMost of these economies do not exist in pure form. They exist as mixed economies. For example the United States which has mainly a market economy with some government control and intervention.As far as political systems, democracy/republic works with mixed, market, and traditional, also with command sometimes.Communism is the system that goes with a command/centrally planned economy.Fascism attempts to go between market and command.
What contributed to the collapse of command economies in communist states around the end of the cold war?
They failed to produce enough consumer goods . Including food, for Their citizens
