Which of the following best describes a command economy. The command economy also known as a planned economy requires that a nations central government own and control the means.
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In this type of economic system the government controls all aspects of the economy and makes all decisions about what goods will be produced who will produce them and how they will be produced.
. Within a command economy the government decides what goods and services are made how those goods and services are made and for whom those goods and services are made. Mixed economies tax their population at higher rates. Its current system has been described as a socialist market economy.
The production and allocation of goods and services is determined primarily through government. History 21062019 2030 arirodriguezc5854. Ensure the availability of consumer products.
The United States can best be described as having a a. What type of economy is most common worldwide. The production of goods and services is determined primarily by markets but the allocation of goods and services is determined primarily by government.
An economy where strong controls are imposed by the ruling authors 26. Other questions on the subject. Unable to talk about economic issues with foreigners.
An economy that is characterized by a barter trade of goods and service D. History 20062019 1802 nati5720. Production and consumption of goods and servicesincluding what and how much is produced and consumed is controlled by the Government.
Command economy is a form of economic system where production levels and rates are determined centrally by the government instead of demand-based production as like in case of market driven economy. A mixed economy is on the continuum between a command economy where the government has total control and a free market or capitalist economy where the market is just left to supply and demand laws. In a command economy individuals have less economic freedom.
Command economy Market economy Choices. The economy of China can best be described as. 39 With regard to various economic systems most economists agree that A government intervention in the economy is only justified in time of war.
The purpose of government in a command economy is to a. A command economy is the opposite of the free market. The private entrepreneurs are fully free to develop their industries and to start new industries in this sector.
Although none of these economies can be described as an command economy in an absolute. Strong economic growth in countries such as Germany South Korea. The government decides how much of.
Most economies have found that they need a mix of free market and some government control to be successful and protect consumers. The government of a command economy owns all of the productive resources whereas the government of a socialist economy owns just some. The government sets the prices and.
The level of government involvement in a mixed economy can best be described as. A command economy can best be described by which statement. C the optimal mix of market and command systems remains constant over time.
A mixed economy is a when a countrys economic system is a mixture of a market economy and a planned economy. Emphasis on a command economy has notably existed in the former Soviet bloc Cuba and China. Business owners make decisions about how to run their companies.
Were political reforms in the progressive era a good example of american democracy. Terms in this set 52 Why do most of the economies in the world today operate somewhere in between a market economy and a command economy. The objective of a command economy is noble and virtuous which eliminates the general population from the fear of the insecurity related to their basic needs.
Command economy is a system where the wealth and resources of a state is mainly determined by the Government. A command economy is best described as an economy that. An economy in which there are a few privately owned firms C.
B most production and consumption decisions are more efficiently coordinated by markets than through central planning.
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