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What considerations might cause one nation to choose to operate as a market economy and another as a planned economy?
Nations may choose to operate as market economies to promote individual freedom, innovation, and efficiency through competition, often resulting in higher economic growth and consumer choice. Conversely, planned economies might be adopted to achieve specific social goals, such as reducing inequality or providing universal access to essential services, by centrally controlling resources and production. Historical, cultural, and political factors also play significant roles in these decisions, influencing how societies prioritize economic objectives. Ultimately, the choice reflects a balance between economic efficiency and social equity.
What else can I help you with?
Which of the following is another term for a planned economy?
Socialist system
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
How is the government involved in a planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
What is the role of government in a centrally planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
What are some disadvantages of planned economy?
One disadvantage of the planned economy is that there is inefficient resource distribution.
How is the economy of totalitarian govern states?
It is a Planned Economy
Which of the following is another term for a planned economy?
Socialist system
Why does Spain have a mixed economy?
both the government and the public control the economy, were as Russia is a planned economy because everything is planned and the government has full control
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
How is the government involved in a planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
What countries have planned economy?
korea
What is the role of government in a centrally planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
What is the governments role in a centrally planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
In this type of economy the question of how many goods will be produced and supplied is not made by businesses.?
Planned (command, centrally planned, or controlled) economy
What is the type of economy where rulers decide what is to be produced?
A planned or command economy.
