Want this question answered?
There are five primary elements of private enterprise. These include private property, freedom of choice, profits, competition, as well as functioning legal system.
A pure market economy is an economy where all major economic decisions are made by individuals and private firms. Therefore some characteristics would include freedom of enterprise, and consumer sovereignty.
There are a few main characteristics of a command economy. These include having the government make decisions about which sections produce what products, the demand being based on the decision of the market economy, and the pricing being decided by the government.
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
North Korea, Iran and Cuba
Some major elements of a free enterprise system include right of land and freedom of economic decisions
There are five primary elements of private enterprise. These include private property, freedom of choice, profits, competition, as well as functioning legal system.
Some countries include : North Korea and Cuba.
There are a few main characteristics of a command economy. These include having the government make decisions about which sections produce what products, the demand being based on the decision of the market economy, and the pricing being decided by the government.
A pure market economy is an economy where all major economic decisions are made by individuals and private firms. Therefore some characteristics would include freedom of enterprise, and consumer sovereignty.
There are a few main characteristics of a command economy. These include having the government make decisions about which sections produce what products, the demand being based on the decision of the market economy, and the pricing being decided by the government.
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
North Korea, Iran and Cuba
The similarities between command economy and market economy include the following: both have - producers, consumers, retailers, goods, services, prices, incomes, distribution, money, labor, capital, technology,
The marketing environment has seven important elements to it. These elements include; social and cultural factors, political factors, the condition of the economy, media, logistics, competition and technology.
A business environment are the internal and external factors that affect a business. Its elements include society, technology, regulations, economy and politics.
"The most popular economy car rental in the United States is US Rent A Car, which has 25,000 locations in 175 countries. Other popular companies include Budget and Enterprise."