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Rapid industrialization
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What is the main goal of both fiscal and monetary policy?
The main goal of both fiscal and monetary policy is to stabilize the economy.
Is a centrally planned economy desirable?
As this is a question looking for an opinion, you may have dissenting answers.Answer 1 - NoThe main problem with a centrally planned economy, and from which nearly all problems with the system derive, is the inability for forecasters to properly predict what future consumption will be. This inevitably leads to shortages, when a good is more desirable than previously estimated, and overages, when a good is less desirable than previously estimated. These shortages and overages lead to price instability, which harms businesses and consumers who can no longer adequately budget for their needs in a climate of price jumps and falls. Correspondingly, people buy less than they may want in order to only get what they absolutely need and save for a rainy day. This leads to a contracted economy overall. A free-market economy is able to circumvent the problem of shortages and overages more effectively since businesses are able to increase or decrease production with realtime market information.It should not surprise anyone that every centrally planned economy has resulted in poor growth and dissatisfaction of the population.
What are the advantages of planned economic system?
There are few benefits to a centrally planned (controlled) economy. One benefit might be that the amount of funds used to manufacture a particular product can be firmly budgeted for. Thus there are no surprises or cost over runs.
What is the main product usually produced in a command economy?
In a command economy, the main products produced are typically those deemed essential for fulfilling state objectives and meeting the needs of the population, often including basic goods like food, clothing, and housing. The government centrally plans and controls production, prioritizing industries that align with national goals, such as heavy industry or military goods. This can lead to inefficiencies and a lack of consumer choice, as production is not driven by market demand. Ultimately, the focus is on meeting quotas and achieving planned economic targets rather than responding to individual preferences.
What are the main players in command economy?
list the main players in command economy
What is the main goal of both fiscal and monetary policy?
The main goal of both fiscal and monetary policy is to stabilize the economy.
Is a centrally planned economy desirable?
As this is a question looking for an opinion, you may have dissenting answers.Answer 1 - NoThe main problem with a centrally planned economy, and from which nearly all problems with the system derive, is the inability for forecasters to properly predict what future consumption will be. This inevitably leads to shortages, when a good is more desirable than previously estimated, and overages, when a good is less desirable than previously estimated. These shortages and overages lead to price instability, which harms businesses and consumers who can no longer adequately budget for their needs in a climate of price jumps and falls. Correspondingly, people buy less than they may want in order to only get what they absolutely need and save for a rainy day. This leads to a contracted economy overall. A free-market economy is able to circumvent the problem of shortages and overages more effectively since businesses are able to increase or decrease production with realtime market information.It should not surprise anyone that every centrally planned economy has resulted in poor growth and dissatisfaction of the population.
What was the main goal of establishing a central banking authority?
To stabalize the national economy.
What are the advantages of planned economic system?
There are few benefits to a centrally planned (controlled) economy. One benefit might be that the amount of funds used to manufacture a particular product can be firmly budgeted for. Thus there are no surprises or cost over runs.
What type of economy did Georgia have?
Colonial Georgia had an economy based on agriculture. Main crops included sugar, rice, and indigo. Georgia was founded by James Oglethorpe in 1732.
What is the main objectives of environmental economy?
Securing economic development, social equity and justice, and environmental protection is the goal of sustainable development.
What is the main source of irrigation for the centrally Valley in California?
San Francisco bay
What was peter ponds main goal?
his main goal was to go to mars
What was david thompsons main goal?
his main goal was to help others
What was the north's main goal in the war?
The main goal was the restoration of he Union.
What is the main goal of a six goal implementation?
The main goal of a Six Sigma implementation is continuous improvement.
What was great Britain's main goal when it ruled the gold coast?
Great Britain's main goal when it ruled the Gold Coast was to control the region for its resources and economic benefit. They also aimed to establish a profitable trade network and maintain political control in the area.
