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In a command economy, important economic decisions are made by a central authority, typically the government or a central planning body. This authority determines what goods and services are produced, how resources are allocated, and the distribution of wealth. The aim is to achieve specific social or economic goals rather than respond to market forces. As a result, individual consumer choices and market competition play a minimal role in the decision-making process.
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Why managers need to know economics?
Hi this is his role is to make sure the company makes profit
What are the advantages of studying economics?
Economics enables us to understand money, its behaviour , and importance. Economics makes a nation prosper, and makes a person educated in a real sense. Economics is defined as a science of money and money being the most important factor in modern man's life it is most important to study.
Importance of studying economics?
Economics is basically called the "QUEEN SUBJECT " of all subjects of social sciences . Economics is one of the most useful of all sciences,because it make us aware of how thing are exchanged,flourish,and survive within multiple markets.Not even that , it makes us aware of lots of facts which we know earlier but have not figured out that how it implemented on ones life. economics is about choice and is at the heart of all decision making individuals, businesses and goverments are all faced with making choices in situations with resources and scarce. economics is valuable not only for the topics it studies,but also for its methods of analysis.
Is Economics an isolated science since it has no relation to other sciences?
Economics is strongly linked to finance, and makes use of mathematics and statistics, so I do not see how it can be isolated.
What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
Why managers need to know economics?
Hi this is his role is to make sure the company makes profit
What are the advantages of studying economics?
Economics enables us to understand money, its behaviour , and importance. Economics makes a nation prosper, and makes a person educated in a real sense. Economics is defined as a science of money and money being the most important factor in modern man's life it is most important to study.
What is the command system?
Command system is when the government makes decisions or when the economic decision is taken by the central body. This type of system contrasts the market economy.
The command haw makes a horse turn left what verbal command makes it turn right?
Gee
Who makes the decision in a case the judge or guardian ad litem?
The judge is the one who makes the decision.
What is one important style decision that a speaker makes when writing a speech?
The level of formality that best fits the topic and the audience
Who makes the decisions in a command economic?
the president...
What is the -i command in Linux?
It is not a command. It is an option for a command. Depending on the command it can modify the actions taken.For cp, mv and rm it makes the command interactive (are you sure). For ls it shows the inodes of files.
What is the study of how a country makes and uses the things its people need?
economics
In the US which groups actually makes most of the economics decisions?
the consumers
What are the release dates for A Citizen Makes a Decision - 1954?
A Citizen Makes a Decision - 1954 was released on: USA: January 1954
Importance of studying economics?
Economics is basically called the "QUEEN SUBJECT " of all subjects of social sciences . Economics is one of the most useful of all sciences,because it make us aware of how thing are exchanged,flourish,and survive within multiple markets.Not even that , it makes us aware of lots of facts which we know earlier but have not figured out that how it implemented on ones life. economics is about choice and is at the heart of all decision making individuals, businesses and goverments are all faced with making choices in situations with resources and scarce. economics is valuable not only for the topics it studies,but also for its methods of analysis.
