In what type of economy does the government answer the three basic economic question

1 answer:

3 0

In a command economy, the government decides the answers to the three basic questions. It decides what will be made, how they will be made, and who... Economists generally recognize three distinct types of economic system. These are 1) command economies; 2) market economies and 3) traditional economies.

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W.E.B. did not experience racism as a child which influenced him to believe in standing up and

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The correct answer is: Oldowan tools

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Around 1.8 million years ago, the early Homo were present in Europe, as their fossils were discovered along with the Oldowan tools in Dmanisi, Georgia.

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What are roles of the government in a mixed market economy? Select all that apply)

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From the given the roles of the government in a mixed market economy helps to ensure that prices are fair and ensures businesses are able to make a profit.

Option A and D

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The US and British economies have already developed into mixed economies.

Yet India's mixed economy is special, as the government sector plays a more involved, critical and comprehensive role in economic growth and operating in the mixed economy in India.

While the mixed economies of the United States and Britain are market-oriented India's mixed economy is socialist-oriented.

In distributing insufficient funds and distribution of taxes, the State has a role to play in the mixed economic system. Given the essential role of government, however, financial activities are open for Private firms and entities.

The mixed economy functions through both the price mechanism and the government's plan. Profit-making and these decisions are based mainly on the price mechanism.

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