What is true of command economies
[DOC File]TRUE/FALSE - Valencia College
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The command system (also called socialism or communism) is based primarily on extensive public ownership of resources and the use of central planning for most economic decision making. There used to be many examples of command economies (e.g., Soviet Union), but …
[DOCX File]Effingham County Schools / Overview
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command economies. d. independent judiciaries. ... The company desire to stay true to its mission statement, which claims, “It will serve the marketplace of the United States with its superior products and provide job opportunities with a fair wage for its employees.”
[DOC File]THE NEW TRADITIONAL ECONOMY: A NEW
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3. Which of the following is true of the concept of increasing opportunity costs? It is unimportant in command economies because of central planning. It suggests that the use of resources to produce a set of goods and services means that as more of one is produced, some of the other must be sacrificed.
[DOC File]Chapter One – People & Government
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Explanation:In a command economy, individuals have less economic freedom since the government makes the major economic decisions. Typically, command economies are less efficient than market economies resulting in a lower per capita GDP. 6) In a traditional economy, the decision to make (or not make) certain products is decided MOSTLY by
Command Economy: Definition, Characteristics, Pros, Cons
Why do you think this is true? Comparing Command and Market Economies – Sample Answers. 1. Read each of the following characteristics and decide whether they describe a ‘command’ or a ‘market’ economy and place an “X” in the correct box on the chart. COMMAND MARKET A. There is a great amount of economic freedom. X B.
[DOC File]Substitutes in production – goods for which producing more ...
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- Economics systems (command economies vs. market economies. Demand and Supply: - Demand versus quantity demanded - Determinants of demand (income, prices of related goods, expectations, tastes, number of buyers) - Shifts of the demand curve versus movements along …
[DOC File]Unit I: Basic Economic Concepts - Weebly
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Planned or command economies. Market economies – characterized by property rights and are demand and supply driven. Demand. The law of demand – holding everything else constant, the quantity of a good or service demanded is an inverse function of its price. The demand curve equation, QD = aP + b, where a, b are constants with a < 0,
[DOC File]Economics 101: Kelly
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C. Communism as a Command Economy. 1) In Communist nations, government planners decide how much to produce, what to produce, and how to distribute the goods and services produced. 2) This is known as a command economy. A) Decisions are made at the upper levels of government and handed down to managers.
Third Grade Overview
Rationale: Mixed economies exist when the market and the government are both involved in the allocation of resources. Command economies have adopted some elements of free market systems in order to stimulate more growth, while free market economies have adopted a larger role for the government to promote a more equitable distribution of income.
[DOC File]CHAPTER 2
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The collapse of the Soviet model of command socialism has caused the old comparison between market capitalism and command socialism to lose its centrality as the foundation of comparative economics. The transformation of most of the former command socialist economies into other forms has triggered a transformation of the field of comparative ...
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