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There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
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Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
With which of the 4 world economic systems is subsistence farming?
traditional economy
What are three main economic systems of the world?
Communism, capitalism, and socialism.capitalism
How does a Mixed economy answer the basic economic questions?
the world may never know
What are Brazil's advantages of economic systems?
It is a free market and Brazil has the 6th largest GDP in the world.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
With which of the 4 world economic systems is subsistence farming?
traditional economy
What are three main economic systems of the world?
Communism, capitalism, and socialism.capitalism
How does a Mixed economy answer the basic economic questions?
the world may never know
Which was a basic cause of US entry into World War 1?
Economic gain.
What are Brazil's advantages of economic systems?
It is a free market and Brazil has the 6th largest GDP in the world.
Most democracies around the world have how many party systems?
multi-party systems
What are the characteristics of third world countries?
Third world countries typically have low economic development, high poverty rates, limited access to healthcare and education, unstable political systems, and poor infrastructure. They often struggle with issues such as corruption, lack of basic services, and environmental degradation.
What field of anthropology studies how goods and services are produces and distributed in a society?
Economic anthropology studies how goods and services are produced, distributed, and consumed in a society. It focuses on understanding the economic systems, exchange mechanisms, and production methods of different cultures around the world.
What term refers to building empires by imposing political and economic control over peoples around the world?
The term that refers to building empires by imposing political and economic control over peoples around the world is "imperialism." This practice often involves the domination of one nation over another, leading to the exploitation of resources and the imposition of cultural and political systems. Imperialism has historically manifested through colonization, military conquest, and economic dependency.
What types of social systems are there in the world?
Some common types of social systems in the world include democracy, communism, socialism, capitalism, and feudalism. These systems shape how political power, economic resources, and social relationships are structured within a society.
What resulted from the panic of 1873?
Economic problems and depression around the world
