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Is when a central authority controls prices and production of goods and services?
A command economy
How do headwinds vs tailwinds impact the overall performance of the economy?
Headwinds, such as economic challenges or obstacles, can slow down the economy's growth. Tailwinds, like favorable conditions or policies, can boost economic performance. The balance between headwinds and tailwinds influences the overall health and growth of the economy.
What does industrialized mean?
Industrialized can be defined as an economy that is based on manufacturing as opposed to an agricultural economy based on farmlands & farm products. The leading economic countries are industialized.
Define economic depression and name at least one example of one?
An economic depression is a sustained, long-term downturn in economic activity in one or more economy. An obvious example is the U.S. Great Depression.
How will the Economic vision 2030 help Bahrain?
The Economic Vision Bahrain 2030 is a comprehensive economic vision for Bahrain that will give the guidance for continued development of the Kingdom's economy and to make it a better place for the nationals and expatriates.
Who answers the three economic questions in command economy?
government
In what economy the government answer the three economic questions?
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
How are economic questions answered in a command economy?
discuss the basic economic problem?
Is China part of the command economy?
AnswerChina is no longer a command economy in that it has switched to market economic strategies in several of its sectors. Due to this, China is now a mixed economy.However, Saudi Arabia and Vietnam are some examples of a command economy. has also changed back in 2000
Who answers the key economic questions in a centrally planned economy.?
the government
What type of economy answers the three basic economic questions?
3 types of economic system
Under the command economy who decides the answer to the three questions the all economic systems must answer?
the people
Which economy answers the three basic economic questions with the phrase Do as we have always done?
Market
Which economy answers the three basic economic questions with the phrase Do as you have always done?
traditional
Which economy answers the 3 basic economic questions with the phrase do as you have always done?
hgh
A society in which the leadership such as a dictator answers all economic questions is an example of which type of economic system?
A society in which a dictator answers all economic questions is an example of a command economy, also known as a planned economy. In this system, the government or central authority makes decisions regarding the production, distribution, and consumption of goods and services, often with little to no input from the market or consumers. This contrasts with market economies, where decisions are driven by supply and demand.
Who answers the 3 basic economic questions in a market economy?
by the interaction of buyers and sellers in a marketplace.
