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The government and the kids of the w
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Who owns the resources in market economy?
Consumers
Who owns the resources in mixed economy?
government
Compare the three economy questions to command economy market economy and traditional economy?
traditional economy: resources are allocated based on custom and traditionmixed economy:resources are allcoated based on mixed informtion given.command economy: resources are allocated by the government or other central authoritymarket economy: resources are allocated by individualsCommusim
What factors and resources does the government own in a centrally planned economy?
The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
What are the advantages of traditional economy system?
A traditional economy is based on an established economy that has proven successful in the past. Resources are allocated by inheritance. There is no waste of resources and roles are well defined. A huge disadvantage, however, is a resistance to change.
Who owns the resources in market economy?
Consumers
Who owns the resources in mixed economy?
government
Who owns traditional economy?
The government and the kids of the w
Compare the three economy questions to command economy market economy and traditional economy?
traditional economy: resources are allocated based on custom and traditionmixed economy:resources are allcoated based on mixed informtion given.command economy: resources are allocated by the government or other central authoritymarket economy: resources are allocated by individualsCommusim
What factors and resources does the government own in a centrally planned economy?
The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
What are the advantages of traditional economy system?
A traditional economy is based on an established economy that has proven successful in the past. Resources are allocated by inheritance. There is no waste of resources and roles are well defined. A huge disadvantage, however, is a resistance to change.
Traditional economy coutries?
What type of Government is in control in a traditional,command and market economy? Who controls the resources? Distribution of goods and services? Controls productions? What are the negative affects on society? Benefits to society for each form of economy?
Who owns businesses in a mixed economy?
In a mixed economy the owner owns a business.
Who owns business's in a mixed economy?
In a mixed economy the owner owns a business.
How are resources allocated in traditional economy?
It is allocated according the market equilibrium which is subjected to the changing market demand and market supply.
What are two kinds of economic systems?
Market Economy: Resources are publicly owned, consumers decide how resources are allocated. Command Economy: Resources are publicly owned, government decides how resources are allocated.
What is the economic system in Kazakhstan?
Kazakhstan has a Traditional economy
