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In a command economy, decisions regarding production, investment, and distribution are made solely by the government. The state controls all economic resources and determines what goods and services are produced, how they are produced, and who receives them. This system contrasts with market economies, where decisions are driven by individual consumer preferences and market forces. Command economies are often associated with socialist or communist political systems.
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Who make the decisions in a command economy?
In a command economy government planners make the decisions and in a market the decisions are made by individuals.
What is system in which the major economic decisions are made by the central government?
Command economy
How are economic decisions made in a command economy?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
How are command economy decisions made?
Typically, one person or a small group of people in the government would make the decisions.
In a command economy how are decisions made?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
Who make the decisions in a command economy?
In a command economy government planners make the decisions and in a market the decisions are made by individuals.
The mixed economy of Australia is becoming more of a market economy as fewer economic decisions are made by?
the government.
What is system in which the major economic decisions are made by the central government?
Command economy
How are economic decisions made in a command economy?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
How are command economy decisions made?
Typically, one person or a small group of people in the government would make the decisions.
In a command economy how are decisions made?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
In a command economy economic decisions are mostly influenced by?
Its the government because its the one that control all means of production.
Who made all economic decisions?
Economic decisions can be made by various entities depending on the context. In a market economy, individual consumers and businesses make decisions based on supply and demand. In a command economy, the government or central authority typically makes all economic decisions. In mixed economies, a combination of both market forces and government regulations influences economic decision-making.
What is a centrally run economy?
In a centrally-run economy, decisions about quantities and prices of goods and services to be provided are made by a small group, usually government bureaucrats. The opposite is a market economy, where such decisions are made - in theory - by private producers (sellers) and consumers (buyers). Neither type exists in its pure form.
What is a centrally planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
What is a centrally-planned economy?
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
How are decisions made in a market economy?
The decisions are made in a market economy by considerations of various factors. The output level of an economy is the main considerations as well as the income level of the region.
