1) What are the four types of economic systems? Traditional economy , Command economy, Market economy and Mixed economy. 2) What is the purpose of an economic system? 3) Which countries/societies use a traditional, command, market and mixed economic system? 4) What are two advantages and t...
1) What are the four types of economic systems? Traditional economy , Command economy, Market economy and Mixed economy. 2) What is the purpose of an economic system? 3) Which countries/societies use a traditional, command, market and mixed economic system? 4) What are two advantages and t...
Comparative economic systems is a field of study in economics that focuses on analyzing economic systems by comparing them to other types of economies. These comparisons may be used to examine the economic systems of real countries, or may be used to compare the principles of different economic t...
Economic systems determine how goods are produced, who produces those goods and for whom those goods are produced. How those factors are addressed determines the type of economic system. Four main types of economic systems exist, with variations on each type that produce other systems. The economi...
A. The centralization of economic activity in a few large corporations. B. The destruction of the classical free market. C. The development of large bureaucracies, both private and governmental. D. Technological development and the E. conomic growth on it. ...
What is a free economic system? Economic Systems: An economic system is set up by societies to solve the basic problem of economics in how to allocate scarce resources. An economic system must solve the problems of supply and demand in how scarce resources are used in production and who gets...
What Is Comparative Economic Systems All About?Pryor, Frederic L
Planned and market based economic systems are in contrast to another, in other words a society can not be organized with both. Under a planned...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answ...
Mixed economies share several common features: partial private ownership, government intervention, and indirect economic policy. Resource Ownership In a command economy, all resources are owned and controlled by the state. Free market economies allow private individuals to own and trade, voluntarily, all...
14、d countries because there are few productive resources in these countries.C) only in economic systems that are just beginning to develop because specialized resources are scarce.D) to all economic systems, regardless of their level of development.Answer: DTopic: ScarcitySkill: ConceptualStatus:...