0
What is the type of mechanism that answers the basic economic questions through a decentralized decision-making process?
The type of mechanism that addresses basic economic questions through a decentralized decision-making process is known as a market economy. In this system, individual consumers and producers make decisions based on their preferences and resource availability, leading to the allocation of goods and services through supply and demand dynamics. Prices serve as signals to guide these decisions, allowing for efficient resource distribution without central planning.
What else can I help you with?
What is the definition of basic economic questions?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
Why is the international banking system considered decentralized?
Most political and economic analysts and leaders of public and economic policies will agree that a good part of international banking is decentralized. This is because of the large number of international banking organizations are so numerous. As new economic powers emerge, more diversity is created and new markets as well. No one country or banking system can control the world's economy. It's too diverse. Thus international banking, commerce and other financial organizations are decentralized.
What are three key economic questions?
The three key economic questions are: What to produce? How to produce it? Who will consume it?
What three questions must all economic systems answer?
what three questions must all economic systems answer?
Which economic mechanism does a barter system operate without?
money
What has the author Peter T Knight written?
Peter T. Knight has written: 'Economic decisionmaking structures and processes in Hungary' -- subject(s): Central planning, Economic policy, Industrial management
What is the definition of basic economic questions?
Basic economic questions all deal with scarcity. These type of questions must be asked so that economic decisions will be made that are beneficial.
Why is the international banking system considered decentralized?
Most political and economic analysts and leaders of public and economic policies will agree that a good part of international banking is decentralized. This is because of the large number of international banking organizations are so numerous. As new economic powers emerge, more diversity is created and new markets as well. No one country or banking system can control the world's economy. It's too diverse. Thus international banking, commerce and other financial organizations are decentralized.
What are three key economic questions?
The three key economic questions are: What to produce? How to produce it? Who will consume it?
What is economic systems jntu kakinada topics?
An economic system is a mechanism which deals with the production,distribution
What three questions must all economic systems answer?
what three questions must all economic systems answer?
How can the basic economic problem solved in a capitalist?
It is the price mechanism
Which economic mechanism does a barter system operate without?
money
What economic mechanism does a barter system operate without?
money
What are the three questions the economic system must answer?
The thre questions that all economic systems must ask are: What to make? How to make it?, and Who gets it? Tough questions.
How do the four economic systems answer the three basic questions of economics?
Societies answer the three economic questions based on their values!
Who answers the three economic questions in a command economy?
The government answers the three economic questions in a command economy.
