how socialist market economy have a huge impact in china? please give an explanation
how socialist market economy have a huge impact in china? please give an explanation
Homework Answers
Socialist market economy is the type of economy in republic China .The socialist market economy comprises of state owned enterprise, collectively owned and public owned by floating shares. The market directed as well as guided by socialistplanners.They design the market and it will be accepted by the market. The market is given the free hand inorder anto allocated and distribute the country's resources based on the forces of supply and demand.This results in profit maximization by attracting more investor, cheap labor charges and offering through economies of scale.Trade policies are designed flexible too.
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how socialist market economy have a huge impact in china? please give an explanation
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