0
What else can I help you with?
What economic indicator describes the process of generally declining prices?
Deflation describes the process of generally declining prices.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
When markets or governments make economic decisions about what goods and sevices their resources will be used to make what basic economic question are they answering?
In market-based economies, markets determine prices which will answer the three economic questions
What are some similarities between command and traditional economy?
In a command economy government agencies take the decisions regarding consumption production and distribution in other words allocation of resources . The classical example of command economy was the economy of erstwhile USSR- where major decisions were taken by the soviet planning commission. Traditional economy refers to economy in which primary sector- agriculture , mining , fishing , lumbering , animal husbandry etc, is dominant economic activity - in terms of share in GDP and employment.
What describes an economy in which prices form the basis for economic decidions?
market
What economic indicator describes the process of generally declining prices?
Deflation describes the process of generally declining prices.
What is market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
What market economy?
System in which individuals own the factors of production and make economic decisions through free interaction. OR an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
When markets or governments make economic decisions about what goods and sevices their resources will be used to make what basic economic question are they answering?
In market-based economies, markets determine prices which will answer the three economic questions
What are some similarities between command and traditional economy?
In a command economy government agencies take the decisions regarding consumption production and distribution in other words allocation of resources . The classical example of command economy was the economy of erstwhile USSR- where major decisions were taken by the soviet planning commission. Traditional economy refers to economy in which primary sector- agriculture , mining , fishing , lumbering , animal husbandry etc, is dominant economic activity - in terms of share in GDP and employment.
What are Venezuela's main economic activities?
Venezuela's economy is highly dependent on oil exports. The recent fall in oil prices has damaged the economy there. prices can fluctuate so there is always a chance that their economy will improve if and when oil prices rise.
What describes an economic bubble?
stock prices being higher than their real value :)
What is economy command?
Command Economy is all major decisions related to the e production, commodity and service prices are all made by the goverment.
In what type of economy are all basic economic decisions are made by producers and consumers.?
In a market economy, all basic economic decisions are made by producers and consumers through the forces of supply and demand. Prices are determined by the interactions between buyers and sellers, and resources are allocated based on consumer preferences and producer capabilities. This system emphasizes individual choice and competition, allowing for a more efficient distribution of goods and services.
What economic systems does US use?
The US of A has a mixed economy - a combination of market economy and command economy.
Stagfation was an economic term referring to?
Stagflation was an economic condition in which unemployment was high, the economy was stagnant, but prices were rising (inflation).
