1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Stels [109]
3 years ago
9

Read the section "Prices in a Free Market." How does a

History
1 answer:
astra-53 [7]3 years ago
3 0

Answer:

For free market economy, we can explain it in 3 expects. First, because households are the 'owners' of productive resources, firms have to pay them for their resources in the resource market, they can produce everything they want, the type and amount of products are determined by every individual firms, but they should produce the goods and service that other companies or household want, and can make the maximum profits, more profits, more motive for the producers. Prices are determined by householders.

While For the centrally planned economy, (it is also called command economy), all the resources (land, labour and capital) in the market are allocated by government, and it makes all the productive decisions, including price determination, so, the centrally planned economy is a government-controlled economic situation. First, a centrally planned economy may choose to produce whatever the government decides is most crucial to meeting society's needs, the government should provide services and goods that can cater to the people's need. Like in the 19th and 20th centuries period, in China, Mao Zedong realized that China is under a low level of heavy industry, so he decided to develop it first, then the light industry, this decision is sensible and realistic.

You might be interested in
Why were there so many sudden but ineffective revolutions in Europe from 1830-1848? What caused those to happen and generally “f
iren [92.7K]

Answer:

Explanation:

Most of the revolutions of 1848 generally failed due to the conflicting philosophies of the revolutionaries and thus conservatives regained power. These revolutions represent the end of the age of Metternich.

3 0
3 years ago
According to Roosevelt, how is formal government connected to business?
Alja [10]

The correct answer is D) The government helps ensure that both individuals and businesses have rights.

According to Roosevelt, the formal government is connected to a business in that the government helps ensure that both individuals and businesses have rights.

That is why it was so important from the very beginning of his administration to create the kinds of programs that would alleviate the harsh economic conditions lived by the American people after the stock market crash that originated the Great Depression of October 29, 1929.

US President Franklin D. Roosevelt created the New Deal, a series of programs and legislations aimed to help poor people and millions of Americans that had lost their jobs after the beginning of the Great Depression.

5 0
3 years ago
Which of the following reforms was made during William Howard Taft’s presidency?
Sveta_85 [38]
I’m guessing it’ll be the last one for the answer! I tried
3 0
3 years ago
The power to create and maintain a police force, which is exercised at the state and local level, is considered one of these pow
vodomira [7]
B IS THE CORRECT ANSWER
4 0
3 years ago
How did cities address the problems caused by urban living? Technological innovations improved crowding.
Solnce55 [7]

Answer:

Governments began to offer services such as mass transit and sanitation.

Explanation:

6 0
3 years ago
Other questions:
  • Why are advancements in areas such as science considered essential in the development of a great civilization?
    13·1 answer
  • Lewis and Clark wanted recognition, good relations, and assistance from the Mandan and the other local Native American tribes. W
    6·1 answer
  • Russian tsar Ivan the Terrible
    13·2 answers
  • In the Satires, Horace made fun of human weakness.
    5·1 answer
  • In his economic writings, Karl Marx claimed that:
    8·1 answer
  • Its history for 8th grade help me!
    9·2 answers
  • What happened to supporters of President Salvador Allende after the overthrow of the government by Augusto Pinochet?
    15·2 answers
  • Who assasinated archduke
    11·2 answers
  • Ang davao city ay nasa hilaga ng blank at kanluran ng blank.​
    11·1 answer
  • Why did the Black Death occur?
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!