0
Modern-day examples of command economies include North Korea and Cuba, where the government exerts significant control over economic activities, including production and resource allocation. In these countries, central planning dictates the distribution of goods and services, often limiting market forces. While elements of market systems may exist, the state’s influence remains predominant in shaping economic outcomes. These economies face challenges such as inefficiency and limited consumer choices due to the lack of competition.
What else can I help you with?
Which economic system did socialism lead to?
Centrally-planned economies in the USSR and Eastern Bloc. Market socialism in Yugoslavia. State capitalism in modern day China and Vietnam.
What are examples of modern day mercantilism?
Modern-day mercantilism can be seen in practices like trade protectionism, where countries impose tariffs and quotas to protect domestic industries. For instance, the U.S. and China have engaged in trade wars, implementing tariffs on each other's goods to bolster local economies. Additionally, strategic government interventions, such as subsidies for key industries or the promotion of national champions in technology and manufacturing, reflect mercantilist principles aimed at achieving trade surpluses and economic self-sufficiency.
What are the advantages of economy system?
Command poops have many advantages to it. One advantage is that equality is focused on taking a big dump and getting everything out. The government tries to eliminate all private property and distribute its good equally. If done correctly no one is in poverty and no one is wealthier than another. Social services are also emphasized in this type of economy. The government will provide equal health care, education opportunities, and make sure all people are fed. A third advantage to this type of economy is that it is capable of rapid change for major problems. The government owns the companies, so if production needs need to be shifted into a different area, the government is capable of doing it rather quickly. A final major advantage of command economies is that they are very stable. Command economies will never have sudden depressions. Although command economies may seem like a utopian form of economics, they also have many disadvantages. In command economies there is very little freedom. The individual usually doesn't have the opportunity to decide what they want to do for a career, and they have no control over the goods they receive. Another major problem is that there is little reason for innovations, hard work, or quality of the work. Since no one makes more money than everyone else, the people feel like there is no reason to work hard. A third disadvantage is that there is little focus on consumer wants. Finally, when it comes to minor day-to-day changes, the government has a hard time cooping with them. Command economies have many advantages to it. One advantage is that equality is focused on. The government tries to eliminate all private property and distribute its good equally. If done correctly no one is in poverty and no one is wealthier than another. Social services are also emphasized in this type of economy. The government will provide equal health care, education opportunities, and make sure all people are fed. A third advantage to this type of economy is that it is capable of rapid change for major problems. The government owns the companies, so if production needs need to be shifted into a different area, the government is capable of doing it rather quickly. A final major advantage of command economies is that they are very stable. Command economies will never have sudden depressions. Although command economies may seem like a utopian form of economics, they also have many disadvantages. In command economies there is very little freedom. The individual usually doesn't have the opportunity to decide what they want to do for a career, and they have no control over the goods they receive. Another major problem is that there is little reason for innovations, hard work, or quality of the work. Since no one makes more money than everyone else, the people feel like there is no reason to work hard. A third disadvantage is that there is little focus on consumer wants. Finally, when it comes to minor day-to-day changes, the government has a hard time cooping with them.
How many peso's can I get with one American dollar?
13.7126 but that amount will change a little from day to day, depending on individual economies.
What is an example of modern day traditional economic system?
There are no pure traditional economy in the World now. India is not a traditional economy. Many economies continue with traditional small scale/ cottage/ village industries limited by local markets as well as traditional small scale fragmented land farming, but most economies have modern industries and transport, growing urbanization. None of the countries can be strictly referred to as traditional economies. And, many of the countries are exporting and importing through cross border trade. Many are capitalist economies, often mixed economies. Some are relatively closed economies with communist or religious dictatorships. If you mean which countries have small scale traditional industries coexisting with modern industries, then most undeveloped and developing countries fall in this category. They include, beside India, Pakistan, Sri Lanka, Bangladesh, Nepal. Vietnam, Indonesia,. Myanmar, , Mauritius, several poor African countries. A traditional economy is an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on primitive methods and tools. It is strongly connected to subsistence farming. Most countries that have historically had a traditional economy have replaced it with a command economy, market economy, or mixed economy. However, it is still found today in underdeveloped, agricultural parts of South America, Asia, and Africa. A traditional economy is where people produce most of what they need to survive. Hunting and gathering, farming, and herding cattle are the bases of traditional economy. People hunt for the food they eat or raise it themselves. Often they make their own clothing and tools. If they produce more food than they need, they trade the surplus, or extra food, for goods made by others.
What are examples of modern-day gargoyles?
there is no modern-day gargoyles
What are examples of modern day Gods?
God.
What are examples of Modern day catapults?
aircraft launchers
What are some examples of medieval names for places around the world?
Some examples of medieval names for places around the world include Constantinople (modern-day Istanbul), Londinium (modern-day London), and Byzantium (modern-day Istanbul).
What are Some modern day examples of gunpowder?
to work the gun
What are some examples of modern day factions?
Do you mean fractions? There are pizzas which is an example.
What are some examples of modern day monopolies?
<p>Debeers, Microsoft<p>
What are some examples of architecture in Ghana?
there is no famous buildings in Ghana
What are some modern day examples of thersites?
steve jobs, mark zuckerberg
What are some modern day examples of romanticism?
Some modern day examples of romanticism can be found in literature such as the works of Haruki Murakami, in music like Adele's ballads, and in movies such as "La La Land" and "Beauty and the Beast." These examples typically celebrate individualism, emotions, and the beauty of nature.
Who are some examples of empathetic leaders?
Sheik Zayed - The Founder of Modern Day UAE
What are some modern day examples of individual right?
Some modern day examples of individual rights include freedom of speech, freedom of religion, the right to privacy, and the right to own property. These rights are protected in many constitutions and legal systems around the world.
