🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
4
answers
0
watching
84
views

What is a market system best characterized by? 
 
a) extensive government intervention in economic activity 
b) the private production of most capital goods 
c) government regulation of all private markets 
d) central planning and control. 

Watch
4
answers
0
watching
84
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Vaishnavi Kanukurti
Vaishnavi KanukurtiLv10
18 Oct 2020
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

Which of the following is a true statement about a command-based economic system:

a. a command-based economic system is characterized by centralized decision-making.

b. command-based economic systems are characterized by private property rights.

c. the government in a command-based economic system is only responsible for addressing market failures and enforcing contracts.

d. markets in a command-based economic system are responsible for making production decisions.

Which of the following is characteristic of a country with a planned economic system?
a. The economy subscribes to capitalistic competition, where private parties own and operate the majority of businesses.
b. The economy relies chiefly on market forces to allocate goods and resources and to determine prices.
c. The economic system combines private and state enterprises with limited intervention from the government.
d. The economy is largely controlled by the government and freedom of choice is limited in order to accomplish government goals.
e. The economic system is primarily capitalistic but there is some degree of government ownership of the means of production.

What is prohibited in a command economy? 

 

(i) Government intervention 

(ii) Private ownership of property 

(iii) Control over the prices and income 

(iv) Rationing of goods 

 

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in