0
Still curious? Ask our experts.
Chat with our AI personalities
Steve
Taiga
EzraAdd your answer:
Earn +20 pts
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 ...
