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What is an economy in which resources are owned and controlled by the people of the country called?
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All productive resources are government owned an controlled under what kind of economy?
Under a planned economy, all productive resources are government owned and controlled. This type of economy is also called a command economy.
What is an economy controlled by the government?
An economy controlled by the government is called a centrally planned economy. It can also be referred to as a command economy.
How do you free market economies grow?
Growth in Free Market Economy is achieved because a free market can allocate resources much more efficiently than can a controlled economy. Also the free market has a profit/loss price mechanism whereas a controlled economy does not. This sets the controlled economy up for what is called the economic calculation problem, in which the command economy does not know which way to best allocate resources, since the only way you can find this out is through a price mechanism in which your guide is the profit/loss system, instead of arbitrary guesses by bureaucrats. It is also because a free market allows for private property rights, which eliminates the problem known as the tragedy of the commons.
When prices and the quantity of goods produced are controlled by the government as in Cuba it's called a?
command economy
When prices and the quantity of goods produced are controlled by the government as in Cuba what is it called?
command economy
All productive resources are government owned an controlled under what kind of economy?
Under a planned economy, all productive resources are government owned and controlled. This type of economy is also called a command economy.
What is an economy controlled by the government?
An economy controlled by the government is called a centrally planned economy. It can also be referred to as a command economy.
Why is the Philippines called a living country?
The Philippines is called a living country because of the the resources that are present in both water and land that can sustain the needs of everybody, as well as for the sustainable growth of the economy.
What is the level of development Colombia has?
Colombia is considered a developing country with a mixed economy. The country has made progress in recent years in areas such as infrastructure, healthcare, and education, but it still faces challenges including income inequality, rural poverty, and internal conflict.
What is it called when a smaller country is controlled by a bigger country?
dominating
How do you free market economies grow?
Growth in Free Market Economy is achieved because a free market can allocate resources much more efficiently than can a controlled economy. Also the free market has a profit/loss price mechanism whereas a controlled economy does not. This sets the controlled economy up for what is called the economic calculation problem, in which the command economy does not know which way to best allocate resources, since the only way you can find this out is through a price mechanism in which your guide is the profit/loss system, instead of arbitrary guesses by bureaucrats. It is also because a free market allows for private property rights, which eliminates the problem known as the tragedy of the commons.
When prices and the quantity of goods produced are controlled by the government as in Cuba it's called a?
command economy
When prices and the quantity of goods produced are controlled by the government as in Cuba what is it called?
command economy
What is a country whose foreign policy is controlled by an outside government?
This commonly called a protectorate. It also means that the controlling nation uses its resources and army to defend the controlled nation.Some countries who have their foreign policies controlled by an outside government are Iraq and Afghanistan. These are sometimes referred to as slave nations.
When prices and the quantity of goods produced are controlled by the government as in Cuba it's called a blank?
command
When prices and the quantity of goods produced are controlled by the government as in Cuba it's called .?
command economy
The individual who brings together economic resources and assumes the risk in a capitalist economy is called the............?
Entrepreneur.
