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Why are there neither pure market economies not pure command economies?
There are neither pure market economies nor pure command economies because real-world economies often require a blend of both systems to function effectively. Pure market economies can lead to inequalities and market failures, while pure command economies may stifle innovation and limit individual freedoms. Most economies incorporate elements of both, utilizing government intervention to correct market failures and ensure social welfare while still allowing for market-driven mechanisms to promote efficiency and growth. This mixed approach helps balance the benefits and drawbacks of each system.
What are the econimes market and command?
what are command economies
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
Why are command economies less efficient the market economies?
the competition in the market economies encourages both qyality and low prices.
Which of these is a mixture of command and market economies?
capitalism
What are the econimes market and command?
what are command economies
What are the three main types of economies?
Command, traditional, and market economies
Why are command economies less efficient the market economies?
the competition in the market economies encourages both qyality and low prices.
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
Which of these is a mixture of command and market economies?
capitalism
Why are command economies usually less efficient than market economies?
The competition in market economies encourages both quality and low prices.
Why are command economies usuall less efficient than market economies?
The competition in market economies encourages both quality and low prices.
Who was one of the first proponents of employing market economies instead of command economies?
Adam Smith
What does it mean to have a mixed economy?
you have a combination of command and market economies
What combines elements of the command and market economies?
mixed economy
What is Difference between pure market and command economies?
In a market economy, resources are allocated to the production of goods and services on the basis of decisions made by individual businesses anticipating customer needs and desires. The communication
What countries have command traditional market economies?
many many many :)
