0
Why is the economic theory supporting market economies or capitalism much more realistic than theories supporting command economies?
Wiki User
∙ 11y ago
It is based on self-interest.
PLATOPALS<3
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Why According to Adam smith and other classical economists why is the economic theory supporting market economies or capitalism much more realistic than theories supporting command economies?
According to Adam Smith and other classical economists, the economic theory supporting market economies or capitalism are much more realistic than theories supporting command economies because they are based on self-interest.
According to Adam Smith and other classical economists why is the economic theory supporting market economies or capitalism much more realistic than theories supporting command economies?
According to Adam Smith and other classical economists, the economic theory supporting market economies or capitalism are much more realistic than theories supporting command economies because they are based on self-interest.
How have world economies changed during the modern era?
Economic philosophies such as capitalism and communism have been developed.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
Which statement best summarizes both the rise of capitalism and growing criticism of the system during the 19th century?
Capitalism flourished by challenging the economic restrictions of mercantilism, but some citizens blamed it for creating economic inequality. (Apex)
Why According to Adam smith and other classical economists why is the economic theory supporting market economies or capitalism much more realistic than theories supporting command economies?
According to Adam Smith and other classical economists, the economic theory supporting market economies or capitalism are much more realistic than theories supporting command economies because they are based on self-interest.
According to Adam Smith and other classical economists why is the economic theory supporting market economies or capitalism much more realistic than theories supporting command economies?
According to Adam Smith and other classical economists, the economic theory supporting market economies or capitalism are much more realistic than theories supporting command economies because they are based on self-interest.
Why is the economic theory supporting market economies (or capitalism) much more realistic than theories supporting command economies?
It is based on self-interest. PLATOPALS<3
Why could the economic theory of capitalism not be put into the real world?
It is. Capitalism is the basis of the majority of world economies.
How have economies changed during the modern era?
Economic philosophies such as capitalism and communism have been developed.
What are the three basic economic questions that all economies must answer Describe the differences in the way capitalism and socialism answer these questions?
yes... yes you can...
How have world economies changed during the modern era?
Economic philosophies such as capitalism and communism have been developed.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
Which statement best summarizes both the rise of capitalism and growing criticism of the system during the 19th century?
Capitalism flourished by challenging the economic restrictions of mercantilism, but some citizens blamed it for creating economic inequality. (Apex)
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
What is a economic system where people own and make economic decisions?
Economic systems where people own property and conduct business free from despotic governments are often referred to as capitalistic economies. Time and necessity, however, has placed certain restrictions and regulations on such economic systems, based on laws of the government. Practically speaking, these new economies still allow for people to own and make economic decisions are best labeled " free market economies". This implies that the freedoms mentioned are still in place but subject to fair laws and regulations that help all people. Sometimes these economies are also referred to as" mixed economies" because of government involvement into economic affairs and because taxation can influence business decisions.
How does socialism provide a compromise between capitalism and communism?
Socialism is not a compromise between capitalism and communism, it is a distinct economic system and mode of production. A "mixed economy" is often cited as being a compromise between socialism and capitalism, but in practice most mixed economies are interventionist capitalist economies.
