Why do you think that most modern countries’ economies are a mix of command and market types?

Q: What are economic systems, and how do they differ?

A: Answer: Economic system: it refers to the system by which resources, goods, and services are…

Q: Command economies are most likely to encourage an underground economy? true or false

A: The government determines in a command economy what goods and services will be generated, and what…

Q: Which of the political tools for controlling economic systems is the best?

A: Answer- Need to find- Which of the political tools for controlling economic systems is the best…

Q: How did capitalism change lives for the better? How did it impact lives negatively? In what ways has…

A: Capitalism: It is defined as the economic system in which factors of production, trade, and industry…

Q: To what extent should government influence the economy of a democracy such as the United States?

A: In every economy, the government takes decisions to achieve the desired growth rate. The government…

Q: Which of the following is not correct about a socialist economic system? a. Absence of Economic…

A: Socialist economic system: Socialist economic system is a type of economic system in which all the…

Q: How are economic systems linked to types of societies?

A: Economic system: A monetary framework is a method by which social orders or governments arrange and…

Q: If economic laws are applicable in real world?

A: Economics is based on the activities of real life. It analyses the economic activities and then…

Q: describe the twotypes of economic systems: capitalismand command economy?

A: The economies around the world work on the basis of different systems. The economies have different…

Q: how do money and debt play a decisive role in the development of the market logic of capitalism?

A: Many businesses and people utilize debt to finance significant expenditures that they otherwise…

Q: Name two things about our current economic system you would like to change, and briefly explain why.

A: I believe that changing the tax code to benefit specific groups, such as small businesses,…

Q: How many varieties of capitalism is there?

A: Capitalism is an economic system based on the private ownership of productive assets and their…

Q: What are the different types of Economic Systems?

A: An economic system is a method by which social orders or governments coordinate and disperse…

Q: In which type of economy does only the government make economic decisions?

A: The economy in which the only government make or take the economics decisions are the  CENTRALLY…

Q: Why couldn't an economy function without government intervention?

A: An economy needs government intervention for some specfiic purposes because there are various types…

Q: What attribute of capitalism will eventually lead to its collapse as claimed by Marx? How did this…

A: Marx believed that the capitalist system held the seeds of its own demise from the start.

Q: What are some examples of a command economy? Market Economy?

A: In a command economy, macroeconomic and political contemplations decide resource allocation. Command…

Q: What is the closest example to a command economy?

A: The communist society refers to the command economy. In a command economy, there is a monopoly that…

Q: What does marxist economy means? What sectors of economies are being controlled? Why are they being…

A: Economics: Economics refers to the making of choice at the time of scarcity. So, it can be said that…

Q: Why is it necessary to have a freely elected government for democratic capitalism to create a…

A: The democratic capitalism system is based on the 3 components: 1) Free enterprise which provides the…

Q: Karl Marx envisioned a perfect society that would be based on a smoothly running capitalist system…

A: Communist society is a type of societal structure postulated in the Marxist thought that…

Q: Who invented capitalism?

A: Economies are classified into different forms based on the characteristics of their market. Some…

Q: How market mechanism solves the basic economic problems?

A: The market economy will help to solve the economic problems.

Q: How is capitalism thought to benefit society?

A: Capitalist economy: - it is that economic system where the price, quantity, and types of goods and…

Q: What are the features of the socialistic economy?

A: According to the given question In Simple words we can say that a socialist economy is that type of…

Q: How democracy effect economy of any country? Explain with logical examples.

A: In democratic country the people of the nation have the power to decide the institution, and the…

Q: Which type of economic system do you support? Why?

A: The mixed economic system, market economic system, and the command economic system are the three…

Q: what is the major economic schools of thought?

A: A school of economic thought deal with economists who have a particular view or perspective…

Q: According to economic theorists, which system should have the greatest degree of control by the…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: Would Marx approve of the global economic system today?

A: Karl Heinrich Marx was a philosopher and economist who was born in Trier, Germany, and studied law…

Q: Why is the study of economics important to democracy and why is it important for society to have an…

A: ExplanationEconomics is a subject that deals with the relationship between individuals who are…

Q: what are the socialism and communism systems?

A: Socialism and communism are economic systems.

Q: What are the best institutions for achieving economic goals?

A: An institution is a social structure in which people tend to cooperate and also influencing the…

Q: what did Eugene debs did for capitalism?

A: Eugene V. Debs' case criticizes the American government for their participation in the First World…

Q: Why are no economies truly free, in the sense of having no controls or restrictions?

A: Economies cannot be set totally free because of negative economic experience that has been observed…

Q: In planned economic systems, government agencies control both supply and price of the products.…

A: In planned economic systems, government agencies control both supply and price of the products. This…

Q: Describe three different kinds of economic systems.

A: Different kinds of economic systems include;    1. A command economy    2. A market economy   3. A…

Q: Currently, there seems to be a movement toward mixed economic systems in socialist societies. T or…

A: Meaning of Economics: The term economics refers to the situation under which there remains a…

Economic Growth

It means the rise in the manufacturing levels of a country’s products/services over a while. It is calculated in terms of the real income of the people of the country. When the production of products/services begins, the manufacturers will hire employees, which in turn raises the income of the people and it will also raise the buying power, this eventually leads to the circulation of money that directly helps in the increase in the Gross Domestic Product (GDP). Thus, GDP is calculated by economists to calculate the growth in the country.