Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
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.
No, true market economy is purely theoretical, it never excised. US used mixed economy
One good thing about command economies is that they have good qualities. A few bad things about command economies is that they are not efficient and there is no incentive. If you were also wondering what a command economy even IS, then it is an economy where the government is in charge of what they make and how much they sell it for. The way I remember it is by saying that the government is saying, "I COMMAND you to make me this!" teehee. sorry if that was too much info...
A Mixed economy is an economy that is both a planned and free enterprise economy.This means is has both STATE CONTROLLED economies and also PRIVATE OWNERSHIP economies. These 2 are commonly found the Caribbean, such as Barbados or Cuba for example. Free Enterprise is practically self explanatory. It if the economic system for people who own their own businesses such as shops. The Controlled economy is well obviously controlled by the STATE but this usually affects larger companies and businesses.
North Korea, Iran and Cuba
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.
No, true market economy is purely theoretical, it never excised. US used mixed economy
One good thing about command economies is that they have good qualities. A few bad things about command economies is that they are not efficient and there is no incentive. If you were also wondering what a command economy even IS, then it is an economy where the government is in charge of what they make and how much they sell it for. The way I remember it is by saying that the government is saying, "I COMMAND you to make me this!" teehee. sorry if that was too much info...
A Mixed economy is an economy that is both a planned and free enterprise economy.This means is has both STATE CONTROLLED economies and also PRIVATE OWNERSHIP economies. These 2 are commonly found the Caribbean, such as Barbados or Cuba for example. Free Enterprise is practically self explanatory. It if the economic system for people who own their own businesses such as shops. The Controlled economy is well obviously controlled by the STATE but this usually affects larger companies and businesses.
North Korea, Iran and Cuba
This is because centrally planned economy can never reach the same level of efficiency that free market economies create. Although centrally planned economy does work in the short run (So Viet Union); in the long run, it creates huge inefficiency and thus harm not only the economy but also the people in the country. Hence, by moving towards free market they are able to gain more economic growth and possibly economic development.
Never. They are purely herbivorous.
Never :(
Mexico has a traditional capitalist economy, transitioning to a modern capitalist one -- Mexico is an Emerging Market (EM), or Newly Industrialized Country (NIC).Mexico has never been a command economy.
That is purely a decision for the authorities. He does have an MBE however.
All countries have discovered that profits will motivate firms to solve most, but never all, of their economic needs.
it is purely contract basis and also you can never be permenant. Temperarily you can work for the years.