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4 years ago

What eventually happens to non-market “command” economies?

Business

1 answer:

worty [1.4K]4 years ago

7 0

Answer:

From the historical references, we can say that the two leading command economies of the world, China and the Soviet Union both made the transition to the mixed economy.

Explanation:

A command economy refers to the economic system where all significant facets of the economy and economic production are controlled by the Government. In the command economy, it is the government that makes the decision of what to produce, how to produce, and how to distribute the manufactured products and services within the economy. It establishes a very dominant government which restricts the rights of its citizen to seek economic goals. It inevitably creates an environment in which governments will expand their influence over certain aspects of human life. Most command economies, including the Soviet Union, started making the transition to a mixed economy from the 1980s onward. This entailed a privatization process and price deregulation.

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3 years ago

We say that the economy as a whole is in macroeconomic equilibrium if:

Serga [27]

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2 years ago

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Darina [25.2K]

Loan account i believe
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3 years ago

Read 2 more answers

For a given level of inflation, if a rise in the stock market makes consumers more willing to spend (the wealth effect), then th

professor190 [17]

Answer:

aggregate demand curve; right

Explanation:

Inflation can be regarded as

when the level of price of goods/service increases for consumer to buy, it can be measured as a result of change in price. There are four types of level of inflation which are creeping, walking as well as galloping, and hyperinflation, which are measured base on speed. It should be noted that For a given level of inflation, if a rise in the stock market makes consumers more willing to spend (the wealth effect), then the aggregate demand curve shift right

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3 years ago