ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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wants and needs.
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the amount of government involvement in the marketplace.
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the scarcity of resources.
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where resources are available.
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Detailed explanation-1: -But the best examples of mixed economies are those countries where the government takes a significant role in directing the course of the market economy.
Detailed explanation-2: -A command economy is an economic system where the government has control over the production and pricing of goods and services.
Detailed explanation-3: -Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and market economies.
Detailed explanation-4: -Pillars of capitalism In free markets, also called laissez-faire economies, markets operate with little or no regulation.
Detailed explanation-5: -In a command economy, the central government dictates the level of production of goods and controls their distribution and prices. Proponents of command economies argue government control rather than private enterprise can ensure the fair distribution of goods and services. More items