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Ludmilka [50]
2 years ago
13

Which economic system is characterized by public ownership of the means of production, the pursuit of collective goals (rather t

han market-oriented production), and centralized decision making
Business
1 answer:
Dennis_Churaev [7]2 years ago
5 0

An economic system is characterized by public ownership of the means of production, the pursuit of collective goals (rather than market-oriented production), and centralized decision making is called "command economy (socialism)."

<h3>What is command economy (socialism)?</h3>

A form of command economy is socialism. The majority of the production factors, including land and capital goods, are owned and under the jurisdiction of the state.

Key features of command economy are-

  • A populist economic and political structure, socialism is founded on the common, collective, or public ownership of the means of production.
  • The equipment, resources, and manufacturing facilities utilized to create products that are intended to directly meet human needs are among those means of production.
  • The state uses central planning.
  • The state maintains centralized control over the production of products and services, as well as their prices and distribution.
  • While free-market economies have historically been identified with capitalism and democratic countries, command economies have historically been connected with socialist and communist countries.

Socialism the best economic system because-

  • Theoretically, socialism aims to create the greatest amount of common wealth through public benefits.
  • Since the government oversees the majority of societal activities, it can utilize resources, labor, and lands more efficiently.
  • Socialism lessens wealth disparity not only between different regions but also between all social classes and ranks.

To know more about command economy, here

brainly.com/question/15907004

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Harman [31]

Answer:

The goals are not time-bound, there is no specific date as to when they should be achieved.

Explanation:

SMART goals should be:

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Which form of currency is not backed by gold today? The form of currency no longer backed by gold is called money
Amiraneli [1.4K]
<span>
The form of currency that is no longer backed by gold is called money. The currency is not backed by gold because in 1971 people have became able to utilize </span><span>banknotes</span><span> as the only form of money. So, the money had no currency with any gold or silver backing and that is the reason why it is not backed.
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Sally Beauty Warehouse uses the perpetual inventory system to account for its merchandise. On Nov 2, it sold $700 of merchandise
Nutka1998 [239]

Answer:

1) Debit sales discounts $14

2) Debit cash $686

3) Credit accounts receivables $700

Explanation:

nov-02 sold 700

terms 2/15 n 30  

                700

Discount            2%

                   14

Net payment  686

Db Cash_____________686

Db Sales discount_______14

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7 0
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What are the two risk components that determine a firm's cost of equity?
Yanka [14]

Traditionally, the formulas used to express a firm's cost of equity are the dividend capitalization model and the capital asset pricing model (CAPM).

Explanation:

Generally, two risk components determine a firm's cost of equity. The first is the systematic risk associated with the broader equity market. All firms are exposed to this risk, and it cannot be mitigated through diversification.

The second risk component is the unsystematic risk associated with the firm in question. This risk, often reflected as beta, a measure of the stock's volatility in relation to the volatility of the broader market, can be mitigated via diversification.

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Snezhnost [94]

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The target customers consist of wide range of people with different preferences.

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