ECONOMICS
ECONOMIC GROWTH
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
command, demand, capitalist, communism
|
|
|
traditional, command, market, mixed
|
|
|
mixed, market, traditional, primary
|
|
|
None of the above
|
Detailed explanation-1: -Traditional economic system. The traditional economic system is based on goods, services, and work, all of which follow certain established trends. Command economic system. Market economic system. Mixed system. 7 days ago
Detailed explanation-2: -The two branches of economics are microeconomics and macroeconomics. Economics focuses on efficiency in production and exchange.
Detailed explanation-3: -In 2022, The World Population Review labeled Brazil, Haiti, Alaska, Yemen, Canada, and Greenland as traditional economies. Most conventional economic systems are found in Asia, Africa, Latin America, and the Middle East.
Detailed explanation-4: -In a command economy, the system is controlled by the government. A mixed economy is partly run by the government and partly as a free market economy, which is an economic system that includes no government intervention and is mainly driven by the law of supply and demand.
Detailed explanation-5: -#1 – Partial State Control – The ownership of factors of production. #2 – Total Government Control – The state directly influences the functioning of the entities. #3 – Public-Private Control – There is a joint venture.