In a command economy, the government decides Select all that apply: which goods and services will be produced and the prices to be charged for them nothing about the economy each person's occupation based on tradition

Q: Discuss how economic incentives influence businesses and entrepreneurs.

A: Economic incentives are a major factor in determining how businesses and entrepreneurs make…

Q: market. North Korea, Cuba- United States- Germany, Franc

A: Different economic systems prevail in different countries. Two main types of economic systems…

Q: |depicts society as organized around two classes fighting over limited resources.

A: Conflict    depicts society has organized around two classes fighting over limited resources.

Q: Condition that arises because society does not have enough resources to produce all the things…

A: There are mainly three economic problems dealt by each nation. These problems are stated below: a)…

Q: List  AND EXPLAIN three types of economic systems. Based on the information provided and your…

A: An economic system refers to a mechanism through which the resources are used, allocated and…

Q: Which Characteristics of economy system are the most important to a capitalist economy

A: Capitalism is the most noticeable in our present worldwide financial framework. Its principal…

Q: Why is mixed economy best?

A: The main 3 types of economies are: (a) Command (b) Free market (c) Mixed The difference between the…

Q: Ways in which China has a socialist market economy?

A: The term "economic system" refers to the many laws and ordinances that make up the economy. In terms…

Q: Which of the following is not correct about a socialist economic system? a. Absence of Economic…

A: Socialist economic system: Socialist economic system is a type of economic system in which all the…

Q: In a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this…

A: Kinds of economic systems regulate economic choices in various nations. They utilize different…

Q: In capitalist system, they are many fraud and illegal things happened. Why it happen?

A: There are various schools of economic thought, each with its own beliefs and principles. In a…

Q: What are two components of laissez-faire economics? controlled economy O capitalism communism free…

A: OPTION B - Capitalism OPTION D - Free Market Economy In a Laissez-faire economy, there is zero…

Q: Which of the following is the disadvantage of the Socialist economy? a. Efficient use of resources…

A: Socialist Economy refers to the economy where there is full control by the government i.e.…

Q: describe the twotypes of economic systems: capitalismand command economy?

A: The economies around the world work on the basis of different systems. The economies have different…

Q: Name four things about our current economic system that would like to change, and briefly explain…

A: Economic system: It refers to the system under which government will try to provide resources to all…

Q: According to Adam Smith, the butcher, the baker, and the brewer do what they do because of…

A: Adam Smith economic theory: Adam Smith is a philosopher who has given a theory that market tends to…

Q: I believe that yes, the United States is a just society. People can be whatever they want and make…

A: It can be defined as the economic and social system in which the means of production are owned by…

Q: Friedrich Hayek advocated for an economic system based on

A: In 1899, in Vienna, Austria, a famous economist was born. Friedrich Hayek is well-known in the…

Q: Hong Kong is a country characterized by low tax rates and limited government services. What type of…

A: A complex network of interwoven trade, consumption, and production activities makes up an economy,…

Q: a. The minimum wage creates unemployment among young and unskilled workers.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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: Which of the following free-market philosophers believed that Capitalism would end because its image…

A: A free market is an economic system characterized by voluntary exchanges and transactions between…

Q: Individuals who come up with a new idea for a good or service, then they make it a reality are…

A: Entrepreneurial economics is a branch of economics that deals with the entrepreneurs and their…

Q: Which of the following refers to an economy which most economic decisions are made by the government…

A: While in laissez-faire free markets (market-oriented) economies, demand and supply are determined by…

Q: What are Traditional Society, Command Economy, Market Economy, and Mixed Economy? Which is best?

A: When a certain good is manufactured, cost  takes place and process of business follow ups. Business…

Q: Analyze three ways that societies can organize themselves economically. Justify reasons most modern…

A: The three ways in which societies organize themselves economically are discussed below:

Q: Do you think a free market or a command economy is more likely to encourage productive and…

A: Command economy and free market are two opposite firms of an economy because command economy is the…

Q: Who invented capitalism?

A: Economies are classified into different forms based on the characteristics of their market. Some…

Q: Good which are supposed to be used together to satisfy a want or need are called___________

A: # Few goods can be used in place of each other and few foods are supposed to be used together to…

Q: In the US, we have a mixed economy. You can find severa examples of a market capitalist economy, a…

A: Economy refers to the system of production, distribution, and consumption of goods and services…

Q: What determines the answers to the economic questions under a traditional economy?

A: Traditional economy explain 3 questions which are as:- 1 .what to produce? 2. How to produce? 3. For…

Q: Business owners can have many goals. Give ONE example of each of the following: a financial goal, a…

A: A business is a firm that controls the activity of the firm. It means the business does the…

Q: What are the advantages of a market economy as compared to a command economy

A: Market economy is a type of economy in which the private businesses control economic matters.…

Q: What type of society did Karl Marx believe was fair to all workers?         Marx…

A: The objective of the question is to understand the type of society that Karl Marx, a renowned…

Q: Who answers the three key economic questions in a Market economic system? custom & tradition…

A: Market economic systems are based on the concept of free markets.

Q: Which of the following is not a typical characteristic of a market system? Multiple Choice use of…

A: A market system:A system of economy where the government has no role to play. Demand and supply…

Q: ost correct answer to the following questions/phrases. Only umber and the letter of your answer. nd…

A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…