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What three basic questions do countries ask when planning their economies?
Wiki User
∙ 12y ago
What to Produce, For whom to produce it to, and how to Produce
Viva Bashirian
Wiki User
∙ 12y agoThe three basic questions to ask when planning an economy are:
1. What are we producing? To even begin the process, countries or businesses need to know the product they will produce.
2. How do we produce it? This is also referring to resource allocation, or the way to assign available resources economically. When answering this question, one should also consider how much energy it will take to produce such a product, and what the most efficient method of production may be.
3. For whom are you producing it for? This may be consumers or even the government. After one knows the answer to this, they may predict the behaviors of their consumers and find ways to make profits, if applicable.
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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
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.
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)
Do all countries rich or poor large or small face the same basic economic problems and questions?
Yes. The difference is that richer countries can cover these basic ones more easily, and can move on to covering more advanced questions.
What are the three basic economies?
capitalism, socialism, and communism
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
What are the three basic economic questions that all economies must answer Describe the differences in the way capitalism and socialism answer these questions?
yes... yes you can...
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.
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)
Do all countries rich or poor large or small face the same basic economic problems and questions?
Yes. The difference is that richer countries can cover these basic ones more easily, and can move on to covering more advanced questions.
What are the three basic economies?
capitalism, socialism, and communism
How are the basic economic problems solved in economies?
this sucks
How do economies produce?
These questions are the basic economic questions to which all economies strive to answer. This is because there are a limited resources available and unlimited human wants, this situation is referred to as scarcity. Thus it is because of scarcity that it is very important that we carefully allocate the limited or scarce resources available to us . For if we don't, we'll die out even sooner. Watch "Doomsday."
Where can you get some information on personal financial planning?
The best place to start regarding personal financial planning is with your banker. He or she is bound to know some people that can help you specifically, and he or she maybe able to answer your basic questions.
What economics and political symtem have evolves to answer the basic questions of economics?
The three economic questions are:What to produce, how to produce, and for whom to produce.There are three main systems that have developed to answer those questions:Traditional economies (economies that answer those questions the same way as their ancestors did) examples are Native American cultures and African tribes.Market economies (where consumers decide what, the producers decide how, and price and income decide for whom) example = JapanCommand/ centrally planned economies (the government decides the answers to these questions) example = USSR and ChinaMost of these economies do not exist in pure form. They exist as mixed economies. For example the United States which has mainly a market economy with some government control and intervention.As far as political systems, democracy/republic works with mixed, market, and traditional, also with command sometimes.Communism is the system that goes with a command/centrally planned economy.Fascism attempts to go between market and command.
All countries rich or poor large or small face the same basic economic problems and questions?
true
The two most basic forms of planned economies are?
Communism and Socialism
