All categories

3 years ago

In a economy, the government owns the means of production.

Business

1 answer:

Daniel [21]3 years ago

5 0

Answer:

(a) Command

Explanation:

A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.

This ultimately implies that, in a command economy, the government owns the means of production.

Societies that operate a command economy generally practices communism.

Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.

It ultimately aims to ensure each person contributes and receives according to their abilities and needs.

Vietnam, China and Cuba are examples of communist countries that operate a command economy.

In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.

You might be interested in

To overcome possible problems with budgets that are developed only by top level managers, an alternative is to use: A. Mandatory

Dafna11 [192]

Answer:

Paticipative budgets

Explanation:

A budget can be defined as a financial plan which gives an estimate of income and expenditures. A budget is a tool that is utilized by different organisations to manage their resources inorder to achieve their various objectives and goals.

A budget shows the different costs incurred by the organisation within a particular period of time.

Participative budgets is a type of budget in which the low level management of an organization are involved in the preparation of budget. It helps to prevent top managers from unruly behaviours.

Participative budget enables the top level and low level managers to share information that will lead to the growth of the organisation.

8 0

3 years ago

If country A exports $10 billion worth of goods to country B and imports $8 billion worth of goods from country B, then country

mr_godi [17]

Answer:

b. $2 billion trade surplus with country B.

Explanation:

When a country exports more than it imports, it is said that the country has a trade surplus. On the other hand, when a country imports more than it exports, it is said that the country has a trade deficit.

In this case, exports to country B are worth $10 billion which are larger than the $8 billion of imports from country B. Country A's trade surplus is given by:

$S = \$10-\$8\\S=\$2\ billion$

Therefore, the answer is alternative b.

6 0

3 years ago

What are the functions of MNCs

nikdorinn [45]

The various functions of MNC are:
Promotion of foreign investment.
Technology transfer.
Promotion of exports.
Investment in infrastructure.

4 0

3 years ago

Read 2 more answers

For which situation is the use of approximate numbers most appropriate? A) preparing your yearly taxes B) ordering programs for

iVinArrow [24]

B. Ordering programs for a high school musical.

Each of the other answer choices requires an exact number because there are laws regarding paying yearly taxes based on exact income, a cashier will only sell you a meal for exactly the amount that they want to charge, and the maximum number of basketball players allowed on the court is standardized through rules for playing the game. Ordering programs can be an estimate.

4 0

3 years ago

Read 2 more answers

As a junior congress person you have been asked to help promote a bill to allow casino gambling in your state. There is much opp

MariettaO [177]

Explanation:

I would promote the establishment of the Casino Gambling Bar in my state and plan my arguments for discussion on the following items:

Casino deserves to play in the State:

More collection of revenue in the form of tax for the administration.

Tourist inflows on weekends, which lead to additional state revenues.

Boost in other businesses, such as casinos, pubs, car parks, gas sales, beer sales and expanded road tax collection.

Improved prospects for jobs.

The increased income selection will create a tourist attraction for the state residents, such as the ocean or a lake.

The demerits I can list and probably face during the argument are:

Concerns of law and order: Night operations are improved and provisions for the Casino Licensing are complied with.

It can increase drug trafficking. Education shall be taken by the police and other law enforcement agencies.

Drug addicts can harm the state: police take care. drug addicts.

Nightlife can be achieved for neighboring residents. Credit shall be taken on night patrols.

Can increase the number of road accidents caused by drunk driving.

Case that Casino Gambling is not new to America. Any real and concrete ties to ill effects such as opined use, drug trafficking and other ill effects are only attributed to a gaming casino.

If all the negative effects expected or perceived by the law enforcement agency are tracked, all the negative effects may be entirely eradicated and savings can be gained from increased revenues by the state.

Discussions with all state machinery must be held before the property is transferred to the casino and the police office can also provide its guidance during this time.

5 0

3 years ago