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What three questions must all economic systems answer?
what three questions must all economic systems answer?
What are the 3 fundamental questions that all economic systems must answer?
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
What are three questions that all economic systems must answer?
The three questions are what to make, how to make it, and who gets the product/service.
What do the three kinds of economic system have in common?
The three primary types of economic systems—traditional, command, and market—share the fundamental objective of allocating resources to meet the needs and wants of society. Each system involves decision-making regarding production, distribution, and consumption, albeit through different mechanisms: tradition and customs in traditional systems, central planning in command systems, and supply and demand in market systems. Moreover, all three systems aim to address the basic economic questions of what to produce, how to produce it, and for whom to produce.
Under the command economy who decides the answer to the three questions the all economic systems must answer?
the people
What three questions must all economic systems answer?
what three questions must all economic systems answer?
What are the 3 fundamental questions that all economic systems must answer?
What to produce?How to produce?For whom to produce?These are the three fundamental questions that all Economic systems must answer.
Name three common charestics of all systems of numeration?
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What are three questions that all economic systems must answer?
The three questions are what to make, how to make it, and who gets the product/service.
What do the three kinds of economic system have in common?
The three primary types of economic systems—traditional, command, and market—share the fundamental objective of allocating resources to meet the needs and wants of society. Each system involves decision-making regarding production, distribution, and consumption, albeit through different mechanisms: tradition and customs in traditional systems, central planning in command systems, and supply and demand in market systems. Moreover, all three systems aim to address the basic economic questions of what to produce, how to produce it, and for whom to produce.
Under the command economy who decides the answer to the three questions the all economic systems must answer?
the people
What are the three questions the economic system must answer?
The thre questions that all economic systems must ask are: What to make? How to make it?, and Who gets it? Tough questions.
How were the three economic systems during the industrial revolution similar?
During the Industrial Revolution, the three main economic systems—capitalism, socialism, and mercantilism—shared a focus on increasing production and efficiency. They all relied on the labor of workers, often in factories, to drive economic growth and innovation. Additionally, each system sought to address the challenges of resource allocation and wealth distribution, albeit in different ways, reflecting a common goal of adapting to the rapid technological and social changes of the time. Ultimately, these systems influenced one another, shaping the economic landscape of the era.
What three broad categories do economist use to classify all economic systems?
Economic system is some sort of arrangements regarding the production of goods and services to satisfy human wants and needs.Economist deals with three questions to classify all economic system,which are:*What to produce?*How to produce?*For whom to produce?By answering these three questions economists make any economic decision.
What are the names of all the economic systems?
it is the revolution
In what ways are the three economic systems alike what are the major differences?
The three economic systems are the command economy, the free-market economy, and the mixed economy; they are all the same because they refer to the production and circulation of goods and services. In the command economy all resources are owned by the government, in the free market economy all resources are owned privately, in the mixed economy resources are owned by both.
What is the main problem of African economic systems?
Lack of economic diversity that is all nothing else
