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In a command economy the government decides how resources are used and what goods and service are produced. In a market individuals make the decisions about how resources are used and what gods and services to provide.
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How did the command economy under Stalin differ from a capatalist economy?
A command economy is a system where the government controls economic activity and the production and distribution of goods. In a capitalist economy, such things are determined by market forces.
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
How does a command economy differ from a market economy?
In a command economy the government decides how resources are used and what goods and service are produced. In a market individuals make the decisions about how resources are used and what gods and services to provide.
What do you call an economy that is both partly command and market?
When an economy is partly command and partly market, is called a mixed economy.
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
How does a market economy differ from a command economy?
In a command economy the government decides how resources are used and what goods and service are produced. In a market individuals make the decisions about how resources are used and what gods and services to provide.
What motivates Market economys?
Competition within industries motivates a market economy. With more options, consumers will spend money on the products they want, which will help the economy.
How did the command economy under Stalin differ from a capatalist economy?
A command economy is a system where the government controls economic activity and the production and distribution of goods. In a capitalist economy, such things are determined by market forces.
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
How does a command economy differ from a market economy?
In a command economy the government decides how resources are used and what goods and service are produced. In a market individuals make the decisions about how resources are used and what gods and services to provide.
Is Bahrains economy command or market?
a market economy
Is Greece market or command economy?
Market economy
What do you call an economy that is both partly command and market?
When an economy is partly command and partly market, is called a mixed economy.
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
Does Belgium have a command or market economy?
Belgium has a market economy.
Is turkey a market economy or command economy?
mixed market
Does Singapore have a command or free market economy?
A market economy
