Capitalism is to market economy as __________ is to command economy.
Capitalism is a market economy in which the whole economic is run and controlled by the private firm and business.
Opposite to it is the command economy in which the maximum decision is taken by the government for the central authorities .
so capitalism is to market economy as Central planning is to command economy.
CENTRAL PLANNING
Capitalism is to market economy as __________ is to command economy.
What is the difference between laissez-faire capitalism, the command system, and the market system? How does the "invisible hand" operate and why do market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output?
Historically, the US economy has been oriented on the ideology of free market capitalism. The Keynesian Neo-capitalism has developed a new concept since the great depression in the way and manner the American Government should intervene in the free market system that would allow it work better for the citizens. In what ways can you differentiate what pure market capitalism and neo-capitalism (Keynesian economics) represent in the American economy today? For the future, do you believe American capitalism is falling...
Contrast how a market system and a command economy try to cope with economic scarcity.
Contrast how a market system and a command economy try to cope with economic scarcity.
the main difference between free market capitalism and crony capitalism: A. crony capitalism is only about greed. B.crony used the state to achieve the goals, market is based on volunteer cooperation. C.free market used incentives for goals, while government never uses incentives to reach its goals. D. crony uses cooperations, conscious uses small shops. E.all of the above.
Question 3. Contrast how a market system and a command economy try to cope with economic scarcity. Justify your answers with detail.
Socialist critics of market capitalism argue that businesspeople will not care about the environment because they are concerned only about profits, whereas socialist planning will be able to take care of the environment. Why then have environmental conditions generally been better in the industrialized market capitalist economies than in the industrialized command socialist ones?
A basic difference between a mixed economy and a command economy is that: (a) government owns all economic resources (b) wages paid to labor are higher in a command economy (c) free markets are never permitted in a command e (d) government planners play a much larger role in deciding what in a command economy goods will be produced in a command economy
North Korea (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high amount of government intervention compared to other countries) Democratic Government (primarily) High economic growth and high standard of living (relative to other countries) low economic growth and low standard of living (relative to other countries)
South Korea (pick all that apply) Primarily Market-Based Economy Primarily Command-Based Economy Authoritarian Government (Relatively high amount of government intervention compared to other countries) Democratic Government (primarily) High economic growth and high standard of living (relative to other countries) low economic growth and low standard of living (relative to other countries)