ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Command Economy, Market Economy, Mixed Economy
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Communism, Socialism, Command System
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Capitalism, Free Enterprise, Mixed Market
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None of these options
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Detailed explanation-1: -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-2: -The two branches of economics are microeconomics and macroeconomics.
Detailed explanation-3: -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.
Detailed explanation-4: -#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.
Detailed explanation-5: -Perfect Competition. Furthermore, no restrictions apply in such markets, and there is no direct competition. Oligopoly. Oligopolists seek to maximize market profits while minimizing market competition through non-price competition and product differentiation. Oligopsony. Monopsony.