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The problems of scarcity and allocation of resources are addressed by production for use or need rather than productio for profit.
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What term used to describe a market economy?
Capitalist
What term is used to describe a market economy?
capitalistA+
What are the five features of your market economy?
There are five features that describe market economy. They are freedom of choice, motive of self-interest, competition, system of market and prices and limited government.
Why do economists describe the us economy as a mixed market economy?
Citizens have economic freedoms with some government regulation
Which statement best describe an aspect of a command economy?
Everyone according to his abilites, to everyone according to his work.
What term used to describe a market economy?
Capitalist
What term is used to describe a market economy?
capitalistA+
What are the five features of your market economy?
There are five features that describe market economy. They are freedom of choice, motive of self-interest, competition, system of market and prices and limited government.
Why do economists describe the us economy as a mixed market economy?
Citizens have economic freedoms with some government regulation
Which statement best describe an aspect of a command economy?
Everyone according to his abilites, to everyone according to his work.
What term describe an economy with more than one type of economic structure?
mixed-market
Compare the circular flow diagrams of a free market and mixed economy describe hoe they differ and why?
In a mixed economy, the government purchases land, labor,and capital from households in the factor market, and purchases goods and services in the product market.
What is Bolivia economy?
Market Economy.
What does capitalism economy mean?
A capitalist economy would be an economy that is based solely on private ownership of capital and of the means of production. This is just a vague statement because there are several different kinds of capitalist economies. E.g. Free Market, Social Market and several others.
Identify 3 sub environments of the business environment and briefly describe the effects of each of these sub environments on its business?
Free Market economy Command economy Mixed economy
What statement best describes an impact of the computer on the global economy?
2) Companies now market more products worldwide.
Which countries have a market economy?
Almost every country has a market economy; North Korea still has a command economy. WRONG^^ U.S. is rumored to be a market economy, but there are not pure market economy.
