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A nation choses its economy based on its economic goals. Economic growth is often any nation's goals. With that in mind a free market economy will help achieve that goal.
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∙ 8y ago
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Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the 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:
Which nation's economy could best be described as a command economy where the government determines guidelines for economic development and sets goals for economic production?
A planned economy is also known as a command economy, and it is designed by a central governmental authority. It is a type of socialist economy, and it currently exists in North Korea, Laos, and Cuba.
What is the economy in which the interaction of supply and demand determines price and output?
Market Economy
What kind of economy does Singapore have?
Singapore is a parliamentary republic.its a politacal government
Who determines what goods to produce in the economy?
It is the demand and supply which determines the goods and services to produce in the economy.
What is specialized market?
What is specialized market
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:
Which nation's economy could best be described as a command economy where the government determines guidelines for economic development and sets goals for economic production?
A planned economy is also known as a command economy, and it is designed by a central governmental authority. It is a type of socialist economy, and it currently exists in North Korea, Laos, and Cuba.
What is the economy in which the interaction of supply and demand determines price and output?
Market Economy
What kind of economy does Bolivia have?
Bolivia has a plurinational socialism. A more radical form of social democracy. Its a socialist nation but mixed with democracy and ethical capitalism.
What kind of economy does Singapore have?
Singapore is a parliamentary republic.its a politacal government
How research will be helpful for the development of a nation's economy with real time examples?
Of course, research will be helpful for the development of a nation's economy. The more research there is, the better it will be for that nation's economy.
Which group of people ultimately determines the products that a free enterprise economy produces?
Which group of people untimately determines the products that a free enterprise economy produce
In a market economy who determines the market price?
Compention
What determines how much a product is demanded and how can the economy tell.?
the industries and the president controls it and tells the economy
Who determines prices in a market economy?
in a market economy.. the prices are decided by demand and supply....or compention
