Which Best Describes A Command Economy? A command economy is where a central government makes all economic decisions. Either the government or a collective owns the land and the means of production. It doesn’t rely on the laws of supply and demand that operate in a market economy. Which of the following best describes a
Who Believed In Less Government Intervention Gives People More Economic Freedom? Friedrich Von Hayek, often called F.A. Hayek , believed that less government intervention gives people more economic freedom. He wrote about it in his pamphlet, “Economic Freedom and Representative Government.” Which economist believed government intervention is necessary for stability? Keynes further asserted that free
Which Term Best Describes The United States Economic Policy During The Era Of The Rise Of Big Business 1865 1900 )? stole money from the United States government. Which term best describes the United States economic policy during the era of the rise of big business (1865-1900)? the government should have control over the means
Who Believed That Competition Is A Regulatory Force? Competition is a regulatory force. Why was Friedrich von Hayek against government intervention in an economy? It would improve the economy’s situation. What did Milton Friedman believe in? Milton Friedman was an American economist who believed in a free market and less government involvement. In contrast to
Why Is Ethiopia GDP So Low? Ethiopia’s economy experienced strong, broad-based growth averaging 9.4% a year from 2010/11 to 2019/20, Ethiopia’s real gross domestic product (GDP) growth slowed down to 6.1% in 2019/20 due to COVID-19 (cornaviruspandemic. Industry, mainly construction, and services accounted for most of the growth. Why is Ethiopia the poorest country in
Which Year Has Highest GDP In India? India GDP Growth Rate – Historical Data Year GDP Growth (%) Annual Change 2020 -7.96% -12.01% 2019 4.04% -2.49% 2018 6.53% -0.26% Which year has lowest GDP in India? “India Rating”s FY21 GDP growth forecast of negative 11.8 per cent will be the lowest GDP growth in the
Who Decides How The Goods And Services Will Be Produced? The government decides what goods and services will be produced and what prices will be charged for them. The government decides what methods of production will be used and how much workers will be paid. Who decides what goods and services will be produced in
Which Of These Economic Conditions Existed In The United States When The Civil War Broke Out? A common explanation is that the Civil War was fought over the moral issue of slavery. In fact, it was the economics of slavery and political control of that system that was central to the conflict. A key issue
Who Makes The Economic Decisions In Canada? Monetary policy in Canada has three main characteristics: Monetary policy is conducted by the Bank of Canada, a government-owned Crown corporation that operates with considerable independence from the federal government but is nonetheless ultimately accountable to Parliament. Who controls the economy in Canada? Canada’s economy is dominated by
Who Owns The Factors Of Production In Cuba? $11.35 billion (31 December 2017 est.) All values, unless otherwise stated, are in US dollars. The economy of Cuba is a largely planned economy dominated by state-run enterprises. The government of Cuba owns and operates most industries and most of the labor force is employed by the