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: 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: When MBsocial > MBprivate the unregulated free market will a) produce too much of the good or…

A: Externalities refer to the cost or benefit of an economic transaction incurred on a third party who…

Q: Compare the main differences between the traditional system and the command system in economic…

A: The methods by which societies coordinate the creation, distribution, and consumption of goods and…

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: 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: I can purchase a wide variety of books, as can all students in this class. Each book has a different…

A: There are mainly 4 types of market structure : Perfect competition  Monopoly  Monopolistic…

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: 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: Which of the following is NOT TRUE about Agrarian Reform Cooperatives? The members of this type of…

A: Agrarian Reform Cooperative: It refers to the cooperation which is not for profit organization. This…

Q: As part of a plan to subsidize avocado production,farmers suggest that the costs of a subsidy…

A: Subsidy means a support in a financial manner to some selected firms/businesses to make them more…

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: 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 basic characteristic of a command system is that    wages paid to labor are higher government…

A: A command economy is where the public authority, instead of the unregulated economy, figures out…

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: standing of

A: The circular flow model depicts the interaction between two groups of decision-makers of economy…

Q: What determines whether corporations individual proprietorships employee on firms consumer…

A: Law of supply determines what production will be determined by a host of factors. This is an…

Q: Oman’s market is diversified according to the availability of different goods and services. One of…

A: The markets are the place where the buyers, and the sellers of different types of goods and services…

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: What are the characteristics of the different market structures ?

A: When studying a market, we must first define what we mean by "market" and which qualities constitute…

Q: American companies form the majority of MNCs (multi-national corporations). On the other hand, many…

A: The MNC or international business operate in different companies and thus they face different…

Q: Discuss the differences between capitalist and command economy.

A: Economy: It refers to the system of organizing money, industry, and trade of a country or region.

Q: Freedom of enterprise is a characteristic that is common to most economic systems. in a market…

A: Free Enterprise Free enterprise, or the free market, refers to an economy in which the market,…

Q: Adam Smith’s theory of the invisible hand is often used to justify a hands-off approach to market…

A: The automatic equibrialization of demand and supply in a free market situation by any unobservable…

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: 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: the presence of competition in free markets and why A)is undesirable because it results in…

A: A free market is a place with no government intervention and people make their decision based on…

Q: In 18th century Europe, governments gave guilds legal authority to limit production of goods. This…

A: Forces of demand and supply decide the market price and market quantity for the consumers.

Q: In a market economy Group of answer choices   All the other answers are true for the market…

A: Market Economy is defined as an economy in which production, investment and distribution of goods…

Q: When government intervenes in the production process because external costs exist, it typically…

A: External cost refers to the cost to the society in the form of environmental or social effects. This…