Who answers the three economic questions in a market economy? How is this different from a command economy?

1 answer:

6 0

1.The one who answer the three economic questions in free market system is the Free Enterprises.
- What to produce
- For whom we produce it
- How to produce it.
All of these questions would be analyzed by the free enterprise based on the demand and supply in the market, so they could come up with appropriate product that they could turn into profit.

2. The difference is that in a command economy, the Government is the one that answers all three questions.
In a command economy, the Government obtain total control on all the resources in the country, so private citizens basically do not have any say in all economic matters.

You might be interested in

Under which doctrine are delinquent acts not considered criminal violations nor are delinquents considered criminal?

melisa1 [442]

Answer:

Parens Patriae

Explanation:

A doctrine that grants the inherent power and authority of the state to protect persons who are legally unable to act on their own behalf.

The parens patriae doctrine has its roots in English Common Law.

In the United States, the parens patriae doctrine has had its greatest application in the treatment of children, mentally ill persons, and other individuals who are legally incompetent to manage their affairs. The state is the supreme guardian of all children within its jurisdiction, and state courts have the inherent power to intervene to protect the best interests of children whose welfare is jeopardized by controversies between parents. This inherent power is generally supplemented by legislative acts that define the scope of child protection in a state.

The state, acting as parens patriae, can make decisions regarding mental health treatment on behalf of one who is mentally incompetent to make the decision on his or her own behalf, but the extent of the state's intrusion is limited to reasonable and necessary treatment.

4 0

2 years ago

For an underage driver, a blood alcohol concentration (BAC) of _______ gives California authorities the legal right to arrest th

melisa1 [442]

Answer: 0.05%

Explanation:

Californian authorities can arrest a driver under the age of 21 for driving under the influence of Alcohol if his/her BAC is 0.05% or higher. The illegal BAC percentage for a driver over the age of 21 is 0.08%.

But even less blood alcohol concentration is considered illegal. For example, for drivers under the age of 21, a BAC of 0.01% is enough to revoke their right to drive for a period of 1 year.

4 0

3 years ago

Shelley and Sam, an African American married couple, have a new home in a middle-class neighborhood. Though they are both lawyer

never [62]

Answer:

b. spiritual suffering

Explanation:

Based on the scenario it can be said that Sociologist E. Franklin Frazier would describe their predicament as a kind of spiritual suffering. All individuals spiritual needs, such as the need to be loved, have faith, hope, and even virtue need to be met, and when these needs are not fulfilled or even attacked as in this scenario then it is considered spiritual suffering.

4 0

2 years ago

Do different theories of the human person lead to different conclusions in the following

nikdorinn [45]

Yes, some theories of the human person are against capital punishment such as the school of thought of Aristotle.

<h3>What is Capital Punishment?</h3>

This refers to the legally authorized killing of a person based on his capital crimes which usually involve the murder of another person or group of persons.

Hence, it is worth noting that while murder is widely condemned, there are some people like Aristotle who are against capital punishment as he believes that is not morally permissible.

Read more about capital punishment here:
brainly.com/question/7229220

8 0

2 years ago

Que Sustantivo son común o propio

shutvik [7]

Answer:

Common : state, kite, cheese

Proper: America, April, Sofia, Mrs. McRea, Saturday,

Explanation:

3 0

2 years ago