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Some of the elements that make up an economy include the small scale retail sector and the large scale sector that includes imports and exports. The interplay of the elements can be classified into microeconomics and macroeconomics.
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What is An economic system in which the government makes all economic decisions?
it's called a command economy
What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
How did the authors of the Constitution set up the basis for a sound economic system?
I believe that Alexander Hamilton had set up the sound economic system, basing it largely of England's economic system. (feel free to add or change)
Is traditional economic system controlled by government?
NO. In a traditional economic system, the government does not involve itself with transactions, primarily since the barter system makes it difficult for the government to monitor transactions.
What is An economic system in which the government makes all economic decisions?
it's called a command economy
How is the economic system of Puerto Rico?
the economic system is free market. I'm not sure how it is but you can look up Puerto Rico's free market economic system
Who makes economic decisions in a free-market system?
Consumers and Producers.
Who makes up the school system?
the government makes up the school system
What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
What is an economic system in which government makes all economic decisions about how goods and services and produced and distributed is called?
Socialism.
How did the authors of the Constitution set up the basis for a sound economic system?
I believe that Alexander Hamilton had set up the sound economic system, basing it largely of England's economic system. (feel free to add or change)
Is traditional economic system controlled by government?
NO. In a traditional economic system, the government does not involve itself with transactions, primarily since the barter system makes it difficult for the government to monitor transactions.
What are the different economic system?
traditional economic system command economic system market economic system
What are the three different economic system?
traditional economic system command economic system market economic system
What is the command system?
Command system is when the government makes decisions or when the economic decision is taken by the central body. This type of system contrasts the market economy.
What are three main economics for economic system?
There are 3 main economics for economic system which are given below: 1.) Capitalism economic system 2.) Socialism economic system 3.) Mixed economic system .
