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Planned economies rely on centralized government to control all or most factors of production and to make all or most production and allocation decisions. A market economy is an economy in which individuals control production and allocation decisions through supply and demand. Planned economies appeal to people as a solution to a large amount of poverty. They promise a high rate of growth in economic prosperity, an improving quality of life, and a different distribution of wealth than market economies. When the economy fails to improve, and quality of life in the country fails to improve at the pace of market economies, the government tends to relax its control and a market economy develops. Previously planned economies are controlled by oppressive and unaccountable politicians who eventually lose power.
If an economy in a nation is characterized by a large number of people in extreme poverty and a high unemployment rate, a planned economy could be used to bring order and to stimulate productivity. Former Soviet Union disbanded due to food shortages in their planned economy, showing poor planning by their leaders. Theoretically in a market economy, when a shortage of a good arises, the prices of that good will rise giving an incentive to entrepreneurial business people to produce more of that product so they can reap the increased profits. Recently, a drought killed a large amount of corn crop, driving the price of beef and other foods up. If there were a severe drought enough to where there is not enough water to grow crops and food needs to be rationed carefully, the government may move towards a planned economy. America has a mix between market and planned economies, in that some economic activity is subsidized while some businesses have regulations. For example, when Enron caused a spike in energy prices beyond a reasonable amount in California, the government forced the company to lower its price. Being the only option for energy needs in areas where Enron provided service, a natural monopoly, Enron could have in a true market economy charged as much as they wanted for electricity and all those involved would have taken great profits.
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Does a planned economy provide equality of wealth?
That would depend completely on the kind of economy being planned. Some plans/ideas for economies, such as those of the Venus Project, do emphasise equality of wealth. Other planned economies, as seen with many communist systems historically, do not provide equality of wealth.
What happens to most centrally planned economies?
Centrally planned economies can only be successful if they are incredibly small. Imagine A single group in America trying to control all the prices in the countless markets - it would simply not be possible. Therefore, most centrally planned economies eventually turn into some sort of free market economy. When prices are determined by the give and take of supply and demand, they are much easier to maintain.
What are three ways your life would change if the US began using a pure free market system or a pure centrally planned system instead of the free enterprise system?
While most developed nations today could be classified as having mixed economies, they are often said to have market economies because they allow market forces to drive most of their activities, typically engaging in government.
With centrally planned on the left and free market on the right which of the following countries economic systems would be farthest to the right on the continuum of mixed economies?
You would need to list the countries for us to respond to your question. The first sentence here is correct. However, when speaking about centrally controlled economies it worth mentioning whether the economy is planned by force or by a recognized system where voters have a say via the ballot box such as in Great Britain. Also, should we assume that a free market economy is also based on the ballot box. Generally speaking, a free market, has a minimum of government control. In summary, more details and names of countries is needed here.
The economies of North and South Korea are complementary and both states would have much to gain by reunification?
True
Does a planned economy provide equality of wealth?
That would depend completely on the kind of economy being planned. Some plans/ideas for economies, such as those of the Venus Project, do emphasise equality of wealth. Other planned economies, as seen with many communist systems historically, do not provide equality of wealth.
What happens to most centrally planned economies?
Centrally planned economies can only be successful if they are incredibly small. Imagine A single group in America trying to control all the prices in the countless markets - it would simply not be possible. Therefore, most centrally planned economies eventually turn into some sort of free market economy. When prices are determined by the give and take of supply and demand, they are much easier to maintain.
What would cause resurgence of planned economy?
Planned economies rely on centralized government to control all or most factors of production and to make all or most production and allocation decisions. A market economy is an economy in which individuals control production and allocation decisions through supply and demand. Planned economies appeal to people as a solution to a large amount of poverty. They promise a high rate of growth in economic prosperity, an improving quality of life, and a different distribution of wealth than market economies. When the economy fails to improve, and quality of life in the country fails to improve at the pace of market economies, the government tends to relax its control and a market economy develops. Previously planned economies are controlled by oppressive and unaccountable politicians who eventually lose power. If an economy in a nation is characterized by a large number of people in extreme poverty and a high unemployment rate, a planned economy could be used to bring order and to stimulate productivity. Former Soviet Union disbanded due to food shortages in their planned economy, showing poor planning by their leaders. Theoretically in a market economy, when a shortage of a good arises, the prices of that good will rise giving an incentive to entrepreneurial business people to produce more of that product so they can reap the increased profits. Recently, a drought killed a large amount of corn crop, driving the price of beef and other foods up. If there were a severe drought enough to where there is not enough water to grow crops and food needs to be rationed carefully, the government may move towards a planned economy. America has a mix between market and planned economies, in that some economic activity is subsidized while some businesses have regulations. For example, when Enron caused a spike in energy prices beyond a reasonable amount in California, the government forced the company to lower its price. Being the only option for energy needs in areas where Enron provided service, a natural monopoly, Enron could have in a true market economy charged as much as they wanted for electricity and all those involved would have taken great profits.
What is pest resurgence?
I'm not entirely sure, but I would have to assume by the meaning of both words that it is a resurgence, or revival of, insect life in your area. Hope this is helpful.
What is Today the economies of virtually all nations would be classified as?
mixes economies
Is it true of false that socialism and captialism are market based economies?
It is true that capitalism is a market-based economy. Socialism can be either market-based or based on economic planning. However, even in socialist planned economies, there would still be markets in consumer goods and some markets for capital goods, so socialism would still include a role for markets. On the other hand, fully-developed communism would NOT be a market-based economy.
What are the type of economics?
There are command economies, which you would find in a dictatorship or true monarchy, free economies, which you would find in Democracies or Republics, there is the mixed economy, Which is what we have, and finally there is the traditional economy which describes tribal and agricultural economies.
What are three ways your life would change if the US began using a pure free market system or a pure centrally planned system instead of the free enterprise system?
While most developed nations today could be classified as having mixed economies, they are often said to have market economies because they allow market forces to drive most of their activities, typically engaging in government.
Are the goods supplied equal to the goods demanded in a planned economy?
Theoritically seen: when Qs = Qd there is an ideal economic situation for a firm. You would call it a planned economy. However a(n) firm/economy cannot always be planned and thus have (as a result) a market clearing price (aka equilibrium price). So in practice, this theory of a planned economy cannot come true at all. Most economists just call these kinds of economies (where there are a lot of goods demanded equalised to goods supplied) free market ones. Hope it is clear now!
Is pre-planned since a month correct?
No, "pre-planned since a month" is not grammatically correct. It would be more accurate to say "pre-planned for a month" or "planned in advance for a month."
With centrally planned on the left and free market on the right which of the following countries economic systems would be farthest to the right on the continuum of mixed economies?
You would need to list the countries for us to respond to your question. The first sentence here is correct. However, when speaking about centrally controlled economies it worth mentioning whether the economy is planned by force or by a recognized system where voters have a say via the ballot box such as in Great Britain. Also, should we assume that a free market economy is also based on the ballot box. Generally speaking, a free market, has a minimum of government control. In summary, more details and names of countries is needed here.
What MW2 map pack is better?
Most people would say the Resurgence because not many people liked the Stimulus
