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Centralized economic system?
In centralized economic system everything in the economy is controlled by the government. In this type of economies market does not have any role to play. Production and consumption of goods are controlled by the government.
What is centralized planning?
Centralized planning refers to when the guidance of the economy by direct government control over a large portion of economic activity. This would contrast with allowing the market to do the same thing.
In what economy the government answer the three economic questions?
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
Who answers the key economic questions in a centrally planned economy.?
the government
What is the economic system of Austria?
Australia has a mixed-market economic system in which there is a mixture of control by the government and freedom of individual enterprise and in which the basic economic questions ...
Centralized economic system?
In centralized economic system everything in the economy is controlled by the government. In this type of economies market does not have any role to play. Production and consumption of goods are controlled by the government.
Who answers the three economic questions in a command economy?
The government answers the three economic questions in a command economy.
What is centralized planning?
Centralized planning refers to when the guidance of the economy by direct government control over a large portion of economic activity. This would contrast with allowing the market to do the same thing.
In what economy the government answer the three economic questions?
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
Who answers the three economic questions in command economy?
government
Who answers the key economic questions in a centrally planned economy.?
the government
Basic economic questions are answered by a group of government planners.?
This is a controlled situation.
What is the economic system of Austria?
Australia has a mixed-market economic system in which there is a mixture of control by the government and freedom of individual enterprise and in which the basic economic questions ...
The basic economic questions are answered by a group of government planners in this type of economy.?
controlled
What type of economy are the basic economic questions answered by a group of government planners?
Controlled
Price determines the answers to the three basic economic questions through the interaction of what?
Price is determined based on supply and demand.
In a centrally planned economy the three key economic questions are answered by the what?
central government alone
