HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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individuals trying to start a new business
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workers forced to do jobs they did not care to do
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local crafts produced before manufactured goods
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government planners set prices for goods produced
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Detailed explanation-1: -Challenges When Transitioning To A Market Economy Poor existing infrastructure. Erratic trade imbalances. Leery foreign investment. Lagging privatization of state-owned businesses.
Detailed explanation-2: -In a command economy, what goods and services are produced, how they are produced, and for whom they are produced are all questions answered by government planning.
Detailed explanation-3: -A command economy is an economic system in which the government, or the central planner, determines what goods and services should be produced, the supply that should be produced, and the price of goods and services.
Detailed explanation-4: -A centrally planned economy or a command economy is one where the price and allocation of resources, goods and services is determined by the government rather than autonomous agents as it is in a free market economy.