Explain what is meant by a command economy
Please provide the best answer for the statement.
The command economy is the opposite extreme alternative to laissez-faire capitalism. It is a system characterized by government ownership of all or nearly all property resources and centrally planned and administered production.
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According to this Application, workers in the EU were more productive than workers in Latvia in the 1990s, yet despite this, EU nations chose to trade with Latvia. Engaging in trade with Latvia allowed ________ to become more productive
A) workers in Latvia but not workers in the EU B) neither workers in the EU nor in Latvia C) workers in the EU but not workers in Latvia D) workers in both the EU and in Latvia
Which statement below is the best summary of the economic point of view?
A) Society is created and designed by the government. B) Society is controlled by major business conglomerates. C) Society is an unintended outcome of individuals pursuing their own projects. D) All of the above. E) None of the above.
Entry into a monopolistically competitive industry
A) is relatively easy. B) is very difficult. C) can be easy or difficult, depending on the type of product. D) is about the same as entering a monopoly industry.
Which of the following is true of depository institutions? a. Depository institutions seek to maximize profits
b. Depository institutions do not seek to maximize profits. c. Depository institutions do not make loans. d. Depository institutions make loans. e. Depository institutions receive funds primarily through customer deposits