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What is the distinction between economic wants and economic needs?
economic wants is something the economy wants as an extra An economic need is something wither a object or servise for the economy to survive! Hope this helps! :)
Disadvantages of command economic system?
One disadvantage of a command system is that it is not designed to meet the wants of consumers, even though many basic needs are provided. A second disadvantage is that the system does not give people the incentive to work hard. A third weakness is that the command economy requires a large decision-making bureaucracy. Yet the fourth weakness of a command economy is that it does not have the flexibility to deal with minor, day-to-day problems. Finally, people with new or unique ideas find it difficult to get ahead in a command economy.
What is the way people use resources to meet their wants and needs?
The way a nation determines how to use its resources to satisfy its people's needs and wants is called:
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
How does a traditional economy satisfy the wants and needs of individuals?
Ask your Social Studies teacher.
What are the five weaknesses of the command economy?
One disadvantage of a command system is that it is not designed to meet the wants of consumers, even though many basic needs are provided. A second disadvantage is that the system does not give people the incentive to work hard. A third weakness is that the command economy requires a large decision-making bureaucracy. Yet the fourth weakness of a command economy is that it does not have the flexibility to deal with minor, day-to-day problems. Finally, people with new or unique ideas find it difficult to get ahead in a command economy.
What is the distinction between economic wants and economic needs?
economic wants is something the economy wants as an extra An economic need is something wither a object or servise for the economy to survive! Hope this helps! :)
Disadvantages of command economic system?
One disadvantage of a command system is that it is not designed to meet the wants of consumers, even though many basic needs are provided. A second disadvantage is that the system does not give people the incentive to work hard. A third weakness is that the command economy requires a large decision-making bureaucracy. Yet the fourth weakness of a command economy is that it does not have the flexibility to deal with minor, day-to-day problems. Finally, people with new or unique ideas find it difficult to get ahead in a command economy.
What is a disadvantage of a centrally-planned economy?
it cannot meet consumers needs and wants
What economy is similar to command economy?
A command economy is the same as a socialst or communist economy.
What is the way people use resources to meet their wants and needs?
The way a nation determines how to use its resources to satisfy its people's needs and wants is called:
What a major disadvantage of centrally planned economy?
it cannot meet consumers needs and wants
What is a major disadvantage of a central planned economy?
it cannot meet consumers needs and wants
How does a traditional economy satisfy the wants and needs of individuals?
Ask your Social Studies teacher.
What is econony?
It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
What are the main advantages of living in a command economy?
The main advantages of living in a command economy that the government takes care of all your needs if your goals tie and Equity security and freedom from need that's their main advantages
