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What is the term used to describe economic systems in which the basic economic questions are answered based on a socially pre-established way?
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∙ 10y ago
tradiotnational
Saija Fullwood
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How do we classify a nation's economic system?
According to how the three basic economic questions are answered.
In this economic system smith believed that basic economic questions were answered by which group?
market
The basic economic questions are answered as you have always done?
traditional
In his economic system smith believed that basic economic questions were answered by which group?
market aPLUS
The average person has little influence on how the basic economic questions are answered.?
controlled function A person does have influence on how questions are answered. This is known to be from a controlled function.
In this economic system smith believed that basic economic questions were answered by which group?
market
How do we classify a nation's economic system?
According to how the three basic economic questions are answered.
The basic economic questions are answered as you have always done?
traditional
In his economic system smith believed that basic economic questions were answered by which group?
market aPLUS
The average person has little influence on how the basic economic questions are answered.?
controlled function A person does have influence on how questions are answered. This is known to be from a controlled function.
The basic economic questions are answered. Do as we have always done.?
This cannot be answered. This question does not make any sense.
Basic economic questions are answered by a group of government planners.?
This is a controlled situation.
How are the three basic economic questions answered in the united stated be specific?
What to produce, how to produce it, and who to produce it for (the 3 economic questions) are answered primarily by private companies in the U.S. Rarely does the government intervene in private sector production.
In what type of economy are the basic economic questions answered as you have always done?
traditional > <
What is the best description of a traditional economy?
The basic economic questions are answered by the customs of the past.
What are the three basic economic questions must be answered in a barter economy.?
guide the economy
What type of economy are the basic economic questions answered by a group of government planners?
Controlled
