0
What else can I help you with?
What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
Who made all economic decisions?
Economic decisions can be made by various entities depending on the context. In a market economy, individual consumers and businesses make decisions based on supply and demand. In a command economy, the government or central authority typically makes all economic decisions. In mixed economies, a combination of both market forces and government regulations influences economic decision-making.
An economy in which the central government makes all the decisions about a country's economic policies?
This is a form of planned economy which is called a command economy. Command economies are central to the ideology of socialism.
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
How a command economy differs from the other economic systems?
A command economy differs from other economic systems primarily in how decisions about production and resource allocation are made. In a command economy, the government centrally plans and controls these decisions, determining what goods are produced, how much, and at what prices. In contrast, market economies rely on supply and demand to guide these decisions, while mixed economies combine elements of both command and market systems, allowing for some government intervention alongside market forces. This central control in command economies often leads to inefficiencies and a lack of consumer choice compared to more market-driven systems.
What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
Who made all economic decisions?
Economic decisions can be made by various entities depending on the context. In a market economy, individual consumers and businesses make decisions based on supply and demand. In a command economy, the government or central authority typically makes all economic decisions. In mixed economies, a combination of both market forces and government regulations influences economic decision-making.
2 In a free-enterprise economic system unlike a command system economic decisions are made primarily by?
Consumers.
What is Direct Regulation in commerce?
Direct regulation is the economic style of command economies, like communism where all economic decisions are made by government.
An economy in which the central government makes all the decisions about a country's economic policies?
This is a form of planned economy which is called a command economy. Command economies are central to the ideology of socialism.
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
How a command economy differs from the other economic systems?
A command economy differs from other economic systems primarily in how decisions about production and resource allocation are made. In a command economy, the government centrally plans and controls these decisions, determining what goods are produced, how much, and at what prices. In contrast, market economies rely on supply and demand to guide these decisions, while mixed economies combine elements of both command and market systems, allowing for some government intervention alongside market forces. This central control in command economies often leads to inefficiencies and a lack of consumer choice compared to more market-driven systems.
What is the state that makes all the economic decisions called?
The state that makes all economic decisions is often referred to as a "command economy" or "planned economy." In this system, the government centrally controls production, pricing, and distribution of goods and services. This contrasts with market economies, where these decisions are largely made by individuals and businesses through supply and demand. Examples of countries with command economies include North Korea and, to some extent, Cuba.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
Who runs a command economic system?
A command economic system is typically run by a central authority, such as the government or a central planning agency. In this system, the government makes all decisions regarding the production, distribution, and consumption of goods and services, often with the aim of achieving specific social or economic goals. Examples of countries that have historically operated under command economies include the former Soviet Union and North Korea. The system contrasts with market economies, where decisions are driven by supply and demand.
How are the goods and services allocated?
Goods and services are allocated through various mechanisms, primarily market economies, command economies, and mixed economies. In market economies, allocation is determined by supply and demand, where prices signal to producers and consumers how much to produce and consume. In command economies, the government makes decisions about allocation based on central planning. Mixed economies utilize a combination of both market and government interventions to achieve efficient allocation.
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
