The competition in market economies encourages both quality and low prices.
the competition in the market economies encourages both qyality and low prices.
The competition in market economies encourages both quality and low prices.
The competition in market economies encourages both quality and low prices.
what are command economies
Goods and services are allocated through various mechanisms, primarily market economies, command economies, and mixed economies. In market economies, allocation is determined by supply and demand, where prices signal to producers and consumers how much to produce and consume. In command economies, the government makes decisions about allocation based on central planning. Mixed economies utilize a combination of both market and government interventions to achieve efficient allocation.
the competition in the market economies encourages both qyality and low prices.
The competition in market economies encourages both quality and low prices.
The competition in market economies encourages both quality and low prices.
what are command economies
Goods and services are allocated through various mechanisms, primarily market economies, command economies, and mixed economies. In market economies, allocation is determined by supply and demand, where prices signal to producers and consumers how much to produce and consume. In command economies, the government makes decisions about allocation based on central planning. Mixed economies utilize a combination of both market and government interventions to achieve efficient allocation.
Command, traditional, and market economies
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
Some factors that contributed to the collapse of command economies were the following:They were much less efficient at producing goods than Western free market economies.They were too focused on producing consumer goods instead of valuable new technologiesApex: They were much less efficient at producing goods than Western free market economies.
Answer this question… They were much less efficient at producing goods than Western free market economies.
capitalism
no
In market economies consumers learn not to want things that are not supplied, so there can never be a real shortage in a market economy.