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What else can I help you with?
Who owns the land and the capital in the centrally planned economy?
the state or government
What is an economic system in which land property and capital property are properly owned and equally allocated and planned not controlled by a free market?
Centrally planned economy
What is necessary for countries economy?
the necessary things for a countries economy are the factors of production which is land , labour ,capital and entrepreneur.
What role does land play as physical capital in the economy?
Land serves as physical capital in the economy by providing a foundation for production and economic activities. It is a key resource that can be utilized for agriculture, construction, and other industries, contributing to the overall productivity and wealth of a nation. Additionally, land can be bought, sold, and developed, making it a valuable asset for businesses and individuals to generate income and wealth.
What resources are major influences on a country's or region's economy?
- Oil and other raw materials - Land, labour, capital, entrepeneurship
Who owns the land and the capital in the centrally planned economy?
the state or government
What is an economic system in which land property and capital property are properly owned and equally allocated and planned not controlled by a free market?
Centrally planned economy
What is collective farming?
Collective farming is where workers attend to land. While attending to the land the workers get very small wages. Collective farming is usually used in countries with centrally planned economies.
What is necessary for countries economy?
the necessary things for a countries economy are the factors of production which is land , labour ,capital and entrepreneur.
What is land capital?
Land capital refers to the natural resources available on or within a piece of land that can be used for economic production. This includes minerals, water resources, timber, and land itself. Land capital is a key component of the economy and plays a crucial role in various industries such as agriculture, mining, and real estate.
How would you categorize north Korea and south Korea's economic system?
· North Korea is a planned and isolated economy also they have a lack of arable land. But on the other hand South Korea they have an high-tech modern world economy South Korea joined the trillion dollar club of world economy.
What resources are major influences on a country's or region's economy?
- Oil and other raw materials - Land, labour, capital, entrepeneurship
What role does land play as physical capital in the economy?
Land serves as physical capital in the economy by providing a foundation for production and economic activities. It is a key resource that can be utilized for agriculture, construction, and other industries, contributing to the overall productivity and wealth of a nation. Additionally, land can be bought, sold, and developed, making it a valuable asset for businesses and individuals to generate income and wealth.
When is the allocation of resources in an economy considered to be inefficient?
when total resources in an economy is not equally allocated among four factors of production i.e land, labor, capital and organization then allocation of resources in an economy considered to be inefficient.
What is value of a photo print by Denise Bellon titled Le Pont-Neuf Paris edition Du Desastre printed in France by Union Paris?
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How capital and land considered the same thing?
Capital is anything that has value. Land is capital, but capital doesn't have to be land. Capital can also be money.
What are the three factors of prduction?
Land, labor and capital goods
