ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the economies tends to be the most “equitable”?
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traditional
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command
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market
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mixed
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Explanation:
Detailed explanation-1: -This is a central economic objective which is the aim for allocating resources and production. Examples of a command economy include the likes of China, North Korea, Cuba, Russia, and Vietnam.
Detailed explanation-2: -Some examples of countries that have command economies are Cuba, North Korea and the former Soviet Union.
Detailed explanation-3: -Advocates of socialism argue that the shared ownership of resources and the impact of central planning allow for a more equal distribution of goods and services and a fairer society. Both communism and socialism refer to left-wing schools of economic thought that oppose capitalism.
Detailed explanation-4: -Belarus. Cuba. Iran. Libya. North Korea. Russia.
There is 1 question to complete.