What Is Command Economic System? 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 is the best definition of a command
What Is The Main Industry In Finland? The largest industries are electronics (21.6 percent), machinery, vehicles and other engineered metal products (21.1 percent), forest industry (13.1 percent), and chemicals (10.9 percent). Finland has timber and several mineral and freshwater resources. What is Finland’s main export? Finland’s key export sectors are transportation, electronics, forestry, machinery, and
What Type Of Government Grew Because Of The Worldwide Depression Quizizz? The federal government grew to try and prevent future depressions. What was a major cause of the Great Depression Quizizz? Q. The stock market crash of 1929 was one of the main causes of the Great Depression. What was one factor that helped cause
What Motivates Consumers And Producers In A Pure Market Economy? Producers are motivated by the profits they expect to gain from the goods or services they offer. Their incentive to produce—the thing that motivates them—is the idea that consumers will want or need what they are offering. … This results in competition—producers battling over who
What Were The Most Industrialized Countries In The European Continent? Industrial Revolution in Europe: The first European countries to be industrialized after England were Belgium, France and the German states. The rest of Europe didn’t industrialize until after 1850. Spain, Portugal, Austria-Hungary, Italy and the Ottoman Empire started to industrialize very late in the 19th
Why Is Economy Important For Business? Every business also operates within the economy. Based on their economic expectations, businesses decide what products to produce, how to price them, how many people to employ, how much to pay these employees, how much to expand the business, and so on. Economics has two main subareas. Why economy
Which Country Has A Comparative Advantage In Producing Food And Which Country Has A Comparative Advantage In Producing Televisions? The United States would trade food to Canada and Canada would trade televisions to the United States. We see that the United States can produce food less expensively than Canada can, so the United States has
Which Of The Following Concepts Does A PPF Graph Illustrate? A production possibility frontier is used to illustrate the concepts of opportunity cost, trade-offs and also show the effects of economic growth. What does a PPF illustrate? In business analysis, the production possibility frontier (PPF) is a curve illustrating the varying amounts of two products
What Questions Would You Ask An Economist? Which global trends will shape the world economy in the next ten years? … How would you ensure that you effectively communicate economic data to your audience? … What, in your opinion, is the most important quality in an economist? … What book are you currently reading? What
Why Is The US Considered A Mixed Economy? The U.S. is a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces economic freedom when it comes to capital use, but it also allows for government intervention for the public good. Why is United States a mixed economy? The United States