You know that the rules and regulations in capitalist economies are less when compared with command economies. This basically explains _______. a. Freedom in the economy b. Nature of the economic system c. All of the options d. Controls in the economy

You know that the rules and regulations in capitalist economies are less when compared with command economies. This basically explains _______. a. Freedom in the economy b. Nature of the economic system c. All of the options d. Controls in the economy

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter2: Economic Systems And The American Economy

Section: Chapter Questions

Problem 9AA

See similar textbooks

Related questions

Q: Which of the following is an advantage of capitalist economy? a. Maximization of welfare b. Absence…

A: In a capitalist economy, the property and goods are owned and contolled by private individuals. The…

Q: Decide whether each of the following descriptions most closely corresponds to being part of a…

A: ANS A command economy is a form of economy where any economic problems are solved according to the…

Q: What are the circular flows in the capitalist economy? Please draw it and explain at least in four…

A: Capitalist economy: It is alluded to as the monetary framework where the variables of creation, for…

Q: How do Adam Smith’s principles of the free market play out in our economy today?

A: Adam Smith is a well-known economists till now as he gave many economic theories and models to help…

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: Multiple Choice Identify the choice that best completes the statement or answers the question. 1. A…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

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: OD. What kind of government will the society have, how will it be run, and who will run it?…

A: A centrally planned economy is one in which the government undertakes the production of goods and…

Q: Connect In a free market system, how are incentives related to the principle of consumer…

A: A free market system, also known as a free enterprise economy or capitalism, is an economic system…

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: Which one of the following occurs in capitalistic economy? a. Means of production are owned by the…

A: Capitalism is defined as an economic system which is characterized by private ownership of the means…

Q: Is capitalism associated more with a market or command economy? Why would capitalism be able to do…

A: Capitalism is associated with market economy.

Q: Understand the relationship of capitalism and popular culture

A: There are various schools of economic thought. Each economic theory has its own set of guidelines…

Q: QUESTION 1 Choose the most correct answer to the following questions/phrases. Only write do the…

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

Q: Which of the market structures is the easiest to penetrate and why? Please explain.

A: There are mainly four types of Market Structures. These are Perfect Competition, Monopoly,…

Q: b.How do you think the technology that you use, affects the market structure and/or the demand of…

A: Quartz watches and clocks are timepieces using an electronic oscillator being regulated by a crystal…

Q: How did Veblen criticised capitalist economy? What were the instincts which motivated different…

A: 5) Veblen criticized the capitalist economy because of the way there was a separation between the…

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: Write a sentence or two defining the following terms in your own words. Give examples of each. a.…

A: A) Scarcity - it means that resources are scarce in nature that is wants are unlimited but resources…

Q: i. Market refers to economic institutions of modern capitalism. a. True p. False

A: Market is any platform that connects buyers with the sellers. Sellers enter the market with the…

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…

Q: How might conscious capitalism be applied in international markets? Give an example of a company…

A: Conscious Capitalism leaders aim to honour and find out a voice of the stakeholders, from investors…

Q: Thousands of people work together every day so that fresh SO steak gets delivered to people in…

A: In a market economy or a capitalist economy resource allocation is left at the hands of the market.…

Q: Economics 6. Karl Marx and Marxian Economics d. The history of capitalism shows a pattern of…

A: There are 8 laws of capitalist motion given by karl Marx.

Q: Discuss how Joseph Schumpeter characterized capitalist economies by the process of 'creative…

A: Joseph Schumpeter was one of the most eminent and influential economists of 20th century and he…

Q: ASAP 1. Capitalist production begins and ends with money using the circuit: M-C-C'-M' where C is…

A: *Answer:

Q: capitalist

A: On the basis of ownership and functioning an economy can be classified into three, that is the…

Q: does a modern capitalist economic system require the existence of markets?

A: The term "capitalism" or "capitalist economy" refers to an economic system in which private firms…

Q: Which of the following is not characteristic of capitalist thought?a. Private individuals have a…

A: Capitalist economy: - it is that economic system where the price, quantity, and types of goods and…

Q: 1.Historically, political economy has been the mother of economics. But over time, political economy…

A: Political economy can be stated as a branch of social science which has its focus on relationship…

Q: What are the central features of capitalism as an economic system?

A: GIVEN the central features of capitalism as an economic system

Q: 1. The film elaborates and mocks ideological justifications for capitalism. What were some of the…

A: Capitalism, as an economic system, has been praised for various motives via its proponents.

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

i. Market refers to economic institutions of modern capitalism. a. True p. False
QUESTION 1 Choose the most correct answer to the following questions/phrases. Only the question number and the letter of your answer. 1.1 1.1.1 Communism and Socialism are both examples of a economy. Planned Market C Mixed D Оpen 1.1.2 In a economy various aspects of production are determined by supp demand. A Planned Market C Mixed D Open 1.1.3 An unfair and unethical phenomenon that does not occur in planned econo Social grants Over-development Monopolies Unemployment be A B D 1.1.4 In a economy consumer demand is predictable and controllable.
Imagine that you own your business. It does not need to be the same as in other questions, youare allowed to pick a different firm or product.a.Think about your production process. Please explain the technology that youuse in the production process.b.How do you think the technology that you use, affects the market structureand/or the demand of your product? Note that this question is NOT about howtechnology affects your production process, therefore, NOT about productivity, NOTabout the cost structure.
Discuss the differences between capitalist and command economy.
According to economic theorists, which system should have the greatest degree of control by the state?a. capitalismb. socialismc. democratic socialismd. welfare capitalism
Which one of the following occurs in capitalistic economy? a. Means of production are owned by the government b. The element of a market and the command economy c. It functions with a focus on welfare d. Completely free market operation
What are the central features of capitalism as an economic system?
QUESTION 1 Choose the most correct answer to the following questions/phrases. Only write down the question number and the letter of your answer. 1.1 economy. (1) 1.1.1 Communism and Socialism are both examples of a A Planned Market C Mixed Open 1.1.2 In a economy various aspects of production are determined by supply and demand. (1) Planned Market Mixed Оpen 1.1.3 An unfair and unethical phenomenon that does not occur in planned economies. (1) Social grants Over-development B. Monopolies Unemployment benefits 1.1.4 In a economy consumer demand is predictable and controllable. (1) A Planned B. Market Mixed Open 1.1.5 The flow of goods, services and knowledge over international borders. (1) Expansion B. Globalisation Free flow D. Customs [5]
_______ A system where individuals own and operate themajority of businesses
Decide whether each of the following descriptions most closely corresponds to being part of a command system, a market system, or a laissez-faire system. a. A woman who wants to start a flower shop finds she cannot do so unless the central government has already decided to allow a flower shop in her area. b. Shops stock and sell the goods their customers want but the government levies a sales tax on each transaction in order to fund elementary schools, public libraries, and welfare programs for the poor. c. The only taxes levied by the government are to pay for national defense, law enforcement, and a legal system designed to enforce contracts between private citizens.
Write a sentence or two defining the following terms in your own words. Give examples of each. a. Scarcity b. Substitute Goods c. Monopoly
Q1. In a command economy, _____.a. owners can sell their resources to the highest bidderb. a dictator makes every economic decisionc. no individual or group coordinates the economyd. public ownership of resources is combined with free markets to direct economic activitye. in theory, individual choices are reflected in collective decisions and decisions are made by central planners.Q2. Patrick decided to go to class today instead of going to the movies. He made this decision because:a. Patrick’s additional benefit of going to class exceeds the additional cost of going to the movies.b. Patrick’s additional benefit of going to class exceeds the additional cost of going to class.c. Patrick’s additional benefit of going to the movies exceeds the additional cost of going to the movies.d. Patrick’s additional benefit of going to the movies exceeds the additional cost of going to class.e. Patrick’s additional benefit of going to class equals the additional cost of…