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What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Who possesses factors of production in a mixed economy?
In a mixed economy, factors of production are owned and managed by both the private sector and the government. Individuals and businesses typically own and control resources like land, labor, and capital, while the government may own certain industries or provide regulations to manage economic activity. This combination allows for a balance between free market principles and government intervention to address social and economic needs. Ultimately, the distribution of ownership can vary significantly based on the specific policies and economic conditions of each country.
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
Who owns the factors of productiom and makes economic decisions in a market economy?
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Who possesses factors of production in a mixed economy?
In a mixed economy, factors of production are owned and managed by both the private sector and the government. Individuals and businesses typically own and control resources like land, labor, and capital, while the government may own certain industries or provide regulations to manage economic activity. This combination allows for a balance between free market principles and government intervention to address social and economic needs. Ultimately, the distribution of ownership can vary significantly based on the specific policies and economic conditions of each country.
Economic resources are also known as?
Factors of production.
Factors of production history?
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
In the circular flow model economic resouces is both production and the factors of production?
True
In the circular flow model economic resources is both production and the factors of production?
truetrue
Do economic resources include both production and the factors of production?
Yes, the means of production, and the system that supports it, are all resources.
What owns the factors of production?
Factors of production are typically owned by individuals, businesses, or the government. Land is owned by individuals or governments, labor is owned by individuals, capital is owned by businesses or individuals, and entrepreneurship is typically owned by individuals who take the risk to start and run a business.
The economic indicator that measures inflation in the factors of production is called?
ppi
