In a command economy, establish(es) what will be produced and when, set(s) production goals, and make(s) rules for distribution. individuals and households only privately owned firms individuals, households and privately owned firms a centralized authority

Q: Starfruit, papaya, jackfruit, durian, sweetcorn, mangosteen, pineapple, Banana, Rambutan, Watermelon…

A: The self-sufficiency ratio refers to the ratio at which the economy can produce a self-sufficient…

Q: What is one industry, firm, or product that has disappeared from the market as a result of…

A: Creative destruction describes the intentional destroying of laid-out processes to clear a path for…

Q: Describe the modern capitalist system.

A: Modern Capitalist System focuses on the security from government, it includes both the new and old…

Q: Because of the role of agriculture in DVCs, which institutional obstacle is particularly important…

A: Developing countries are the countries with less GDP and industrial base. It has a low ranking on…

Q: Explain the knowledge problem faced when attempting to plan an economy. Does this have any relation…

A: Government must use fiscal policy to increase employment by increasing aggregate demand in order to…

Q: Justify the claim that the economic basis of the Sumerian civilization laid in highly productive…

A: Sumeria civilization developed when Mesopotamia received almost no rainfall,but then Mesopotamian…

Q: xamine the factors that affecting market structure trends.

A: Trends are what allow investors and traders to make a profit. The movement from one commodity to…

Q: Which are benefits of a mixed market economy? Select all that apply. A mixed market economy provides…

A: The system of the market for commerce, allocation of resources, and trade where free markets tend to…

Q: ohn Kenneth Galbraith saw modern capitalism as   A.dominated by large enterprises and…

A: Macroeconomics refers to the branch of economics that deals with the economy as a whole. For…

Q: Which of the following is not a typical characteristic of a market system? freedom of choice…

A: Option 3  Government production planning    the standard market system everything is closely-held…

Q: why market economies usually do a better job than command economies at efficiently transforming…

A: Answer: Introduction: Market economy: it refers to the economy where there is no government…

Q: What is a characteristic of pure command economies? A The government controls major industries. B…

A: There are majorly four types of economic systems.  1. Pure Command economy 2. Market economy 3.…

Q: e the source below to answer the following question. onomic decision making is decentralized in a a…

A: Free market economies are characterized by the absence of government intervention in economic…

Q: Which of the following terms describes the set of values, beliefs, rules, language, and institutions…

A: The issue you raised has to do with "Culture" and, to a lesser degree, "Ethnocentrism." It involves…

Q: Give an example of one tool used to conduct state guidance in a state guided capitalism. What are…

A: State capitalism is an economic system in which the government engages in commercial (for-profit)…

Q: Apple Computer and Toyota Motors do not allocate goods and services within their organizations with…

A: The companies involved in central planning generally those who do have the brand value and the…

Q: true or false free market economies are generally considered to be efficient and fair

A: # Free market economies are totally driven by the market forces of demand and supply.

Q: Social regulations Select one: a. Lead to increasing industrial concentration b. None of the answers…

A: Governmental regulations also include social regulations.Public interests including health, safety,…

Q: Explain, using examples, the difference between the following: Market Process and Traditional…

A: Market Process - This is the type of economic process as per which the economic activity is guided…

Q: Competitive industries: Group of answer choices A. require government intervention B. compete all…

A: The issue spins around grasping the effects of competitive industries on the economy and society. It…

Q: A _______ is defined as the economic entity which employs the factors of the production to produce…

A: Actually a FIRM is defined as the economic entity which basically employs the factor of the…

Q: All of the following statements about agriculture in commercial economic systems are true EXCEPT…

A: The process of development in any economy is characterized by shifting of traditional agriculture…

Q: QUESTION 2 A firm would use its tangible and intangible resources to gain the competitive advantage.…

A: Answer - Tangible resource:-  Tangible resource are those assets which are fixed and current assets…

Q: An economy in which production is done by primarily by the private sector while government regulates…

A: Mixed economy: A mixed economy is an economy system that combines elements of both a market economy…

Q: Autarky is the state of self sufficiency.    True/False.

A: An extreme kind of economic nationalism and protectionism is what is meant by autarky. Securing the…

Q: We know that environment has an obvious impact on business. Illustrate the impact of the…

A: The socioeconomic environment is described as the social impacts that are inserted on health in the…

Q: Which of the following is NOT characteristic of a capitalist economy? Group of answer choices…

A: The activities that are related to production, sale, consumption and exchange of resources between…

Q: Demonstrate a willingness to critically assess the impact of economic policies on economic…

A: These are the various economic policies adopted by the government in order to economic efficiency in…

Q: What are the disadvantages of free Enterprise capitalist economy

A: Free Enterprise capitalist economy  The free market commonly referred to as capitalism or free…

Q: How does a pure command economy answer the basic question of which goods and services should be…

A: When talking about the types of economies, it can be seen that there are different economic systems…

Q: Why does the government answers the basic questions in mixed market economics

A: A system of economy which is a blend of capitalist and socialist system of economy is called mixed…

Q: In economics, the operation of the competitive market model (Perfect Competition) produces efficient…

A: Perfect competition market consists of large number of sellers who are price takers as the market is…

Q: According to economic theorists, which system should have the greatest degree of control by the…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Refute this statement To ensure that we always have an efficient economy and every firm has a…

A: Intellectual property rights refer to the protection of artistic work, innovations, names, images…

Q: Incentives such as tax breaks for fuel-efficient cars or the use of social stigma to discourage…

A: Tax breaks refer to reduction of tax rate for individuals or firms which reduces tax liability for…

Q: Which of the following is NOT true of a pure command economy?       A. Capital and labor are…

A: An economic system is a way for governments or communities to distribute and organise resources,…

Q: The 'invisible hand' of Adam Smith acts in a free market system with active competition, aligning…

A: Invisible hand is the approach introduced by Adam smith, gives the LET DO/LET GO approach to the…