ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Katia is an accountant in a government run business where she was placed after graduation.
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Command
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Traditional
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Free Market
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Mixed
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Explanation:
Detailed explanation-1: -Command economies have been associated with communist nations whereas free-market economies have been associated with democracies. Command economy advantages include low levels of inequality and unemployment and the common objective of replacing profit with equality as the primary incentive of production.
Detailed explanation-2: -A market economy is the opposite of a command economy. In a market economy, each person answers the 3 basic questions (what, for whom, how). People make decisions for themselves.
There is 1 question to complete.