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Who owns the land and the capital in a centrally planned economy?
Wiki User
∙ 13y ago
the state or government
Wiki User
∙ 13y ago
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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 resources are major influences on a country's or region's economy?
- Oil and other raw materials - Land, labour, capital, entrepeneurship
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.
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.
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
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
What was the first capital of Nigeria?
Lagos was the former capital of Nigeria. It was moved to Abuja i 1991 because Abuja is more centrally located. They also felt that it would be easier to defend Abuja from an attack from a neighboring country. It is also in a neutral area of the country so that no one group or religion can claim they own the land.
What is the characteristics of the planned economy?
A Planned economy, also known as a command economy, is an economic system in which the state directs the economy. The central government controls industry such that it makes all decisions regarding the production and distribution of goods and services. A planed economy is usually directed by central economic plan which is either put in place or influenced by the government. In a Planned economy the planners decide what should be produced and direct lower-level enterprises to produce those goods in accordance with national and social objectives. The Soviet Union, China, and India were all planned economies in the past.
