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Why is there less economic growth with a command economy?
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
What is a efficiency?
A small apartment lacking a separate bedroom, also called a studio.
How does trade help to enrich civilizationprovide example in your answer?
Trading around the world enriches a civilization in many ways. First, it exposes a civilization to different ideas and customs, which allows the civilization to work and learn about those new things. It helps produce money and keep the flow of economy throughout different civilizations. Plus, it also gives a civilization what it is lacking in more of instead of something they have an abundant amount of. For example, when the Native Americans first saw the guns the Europeans brought in they learned about a new type of weapon and hopefully even had their armys trade for the guns.
Why are incentives lacking in centrally planned economy?
In a centrally planned economy, the government makes all decisions regarding production and distribution, which often leads to a lack of competition and innovation. Without the profit motive and market-driven incentives that exist in capitalist systems, individuals and businesses may lack the drive to improve efficiency or quality. Additionally, the absence of consumer choice diminishes feedback mechanisms that typically motivate producers to respond to market demands. As a result, incentives for productivity and responsiveness are significantly weakened.
What we obtain too cheap we esteem too lightly?
The phrase "What we obtain too cheap we esteem too lightly" suggests that when we acquire something without effort or sacrifice, we often fail to appreciate its true value. This principle applies to various aspects of life, including relationships, possessions, and achievements. When something is easily attained, we might take it for granted, lacking the gratitude and respect that come from overcoming challenges. Ultimately, the struggle and investment we put into acquiring something can deepen our appreciation and understanding of its worth.
Does 'lacking' mean the same as 'devoid'?
Lacking means that there is a shortage of something; such as someone who is lacking in manners. Devoid means to be completely without something. The words are similar but not exactly the same.
What is the abstract noun for need?
The abstract noun for "need" is "necessity." Necessity refers to the state or quality of being required or essential. It encompasses the concept of lacking something essential for well-being or functioning.
Why is there less economic growth with a command economy?
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
What is the root word for devoid?
The root word for devoid is "void," which means empty or lacking something. In the case of "devoid," it means completely lacking or missing something.
What is hard ship?
A hardship is when someone is in need of something or lacking something crucial.
A word for not having enough of something?
lacking
Another word for deprived?
lacking of something needed
Is new zealand a free enterprise economy?
It is not a country completely lacking rules, but enterprise is encouraged.
What is the meaning of lacklustre?
The word is derivedfrom lacking lustre or shine and refers to something which is boring or uninspired.
How do you tell if you still have life insuranse with spouse?
This question is lacking something
Which of these situations best descibes a deficit?
lacking funds to pay for something
What the definition of Bereft?
Deprived of or lacking something, especially a nonmaterial asset.
