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How would supporters of a free market economy explain the problems the soviet union experienced?
Because only the market can decide on the demand and supply, when a state controls what to be produced, there would be a gap between what the state wants to produce and what the market wants to produce.
This gap causes missing markets where there is excess supply in some areas while excess demand in other areas.
The market cannot move prices to clear itself in a central planning economy. Therefore, it is inefficient.
What else can I help you with?
What type of economy do most countries in southwest Asia have and explain it?
Mixed Economy
Who is the French theorists whom searched for natural laws to explain the economy?
One of the French theorists who searched for natural laws to explain the economy is Frédéric Bastiat. He was known for his work on economic principles and free trade, advocating for limited government intervention and protection of individual rights in economic matters. His famous essay, "The Law," argues against government interference in the economy.
Why did the creation of Germany cause problems for the french and Germany?
explain the problem that the french were having with Germany
Explain the changes deng xiaoping made it to the Chinese economy What were the effects of these changes?
The changes had radical implications for the structure of the economic and social life in China.
Explain why computer prices are decreasing even though computer functionality is increasing?
Suppy is high, while demand is low; perhaps due to the state of the economy.
What were the problems experienced by settlers in the beginning of the general history of Virgina explain your answer and identify the cause of their problems?
building homes ,food ,and plain surviving the weather.
Explain the problems experienced by Germany after World War 1?
Germany's army was to be reduced, their weapondry was destroyed, they were blamed for the war, and they had to pay about 33 billion dollars.
How was the economy in 1775?
How was the economy in 1775? Good or Bad? Explain
Who was the first person to explain the market economy?
Adam Smith
Explain stalins use of command economy in Russia?
its his command in economy
What type of economy do most countries in southwest Asia have and explain it?
Mixed Economy
Explain how different monetary policies affect the money supply in the economy?
"Explain how different monetary policies affect the money supply in the economy?"
What are the problems faced by India after the freedom explain?
Limited employment opportunities is one of the problems faced by India after the freedom. This has been caused by the failure of the government to generate employment opportunities. The other problem faced by India is that certain political leaders have used the freedom to incite their supporters to sabotage the government.
Explain the functions of the price system in the economy?
functions and roles of price in our economy in tanzania
What are some problems experienced by firearm examiners?
Having to explain what they do. Having to educate members of a jury about firearms. there is a huge variety of firearms, and an examiner may encounter a particular firearm for the first time.
What is an example to explain the concept of scarcity?
Mixed economy
List and explain the sectors of the Nigerian economy?
write short note on education aspect in Nigerian economy
