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What motivates people to work in a market economy?
In a market economy, people are motivated to work by self interest. In a command economy, such as that of North Korea, people are motivated by some combination of patriotism and fear. In a utopian community they might be motivated by idealism. Those are pretty much the only options.
How might economic activities within a family with adults teenagers and young children represent aspects of traditional command and market economies?
Economic activities within a family can reflect aspects of both traditional command and market economies. For instance, a family might engage in traditional practices, such as gardening or cooking meals from scratch, reminiscent of a command economy where self-sufficiency is emphasized. Conversely, teenagers might seek part-time jobs, reflecting market economy principles through individual choice and competition. Additionally, purchasing decisions made by parents often involve market dynamics, as they navigate supply and demand for goods and services.
A government that operates a market economy MIGHT become involved in the economy?
to provide public goods and services to its citizens.
How might the federal reserve to an overheated economy or boom?
The Federal Reserve respond to an overheated economy or boom by selling bonds in the open market.
How might the purchase decisions of consumers impact a market economy?
By buying some products, but not others, consumers might determine what is produced.
What motivates people to work in a market economy?
In a market economy, people are motivated to work by self interest. In a command economy, such as that of North Korea, people are motivated by some combination of patriotism and fear. In a utopian community they might be motivated by idealism. Those are pretty much the only options.
A government that operates a market economy MIGHT become involved in the economy?
to provide public goods and services to its citizens.
Why might socialist have a less rigid command economy than a communist economy?
In a socialist society, various political systems may be combines with public control of the economy.
How might the federal reserve to an overheated economy or boom?
The Federal Reserve respond to an overheated economy or boom by selling bonds in the open market.
Why might socialist society have a less rigid command economy than a communist?
In a socialist society, various political systems may be combines with public control of the economy.
How might the federal reserve respond to the slowdown in the economy or recession?
By buying bonds in the open market
How might the purchase decisions of consumers impact a market economy?
By buying some products, but not others, consumers might determine what is produced.
Why might a socialists society have a less rigid command economy than a communist society?
In a socialist society, various political systems may be combines with public control of the economy.
Why might a socialist society have a less-rigid command economy than a communist society?
In a socialist society, various political systems may be combines with public control of the economy.
Why might a government intervene in the market economy?
Essentially, due to market failure of some type: the market does not efficiently allocate some desirable commodity and the government attempts to correct this misallocation.
How might the federal reserve response to a slowdown in economy or recession?
By buying bonds in the open market(correct answer for apex)
How might being caught in a struggle between superpowers affect a developing nation?
Being caught in a struggle between superpowers affects a developing nation in an adverse manner. This halts the aid and any funding that the nation usually gets from the superpowers which might also affect the economy.
