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Shortages of non priority goods and services is typically found in which economy?
Wiki User
∙ 13y ago
centrally planned economy
Wiki User
∙ 13y ago
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Shortages or spikes in which of the following can have a potential impact on a global economy?
energy
Who decides what goods and services will be produced in a market economy?
In a market economy, it is the producer, typically influenced by the demands of the consumer, who makes decisions about what to produce. This is in contrast to a command economy where the government makes those decisions.
What are the production distribution and consumption of goods and services?
An economy is a system for producing goods and services.
Why did the former soviet union use a command economic system instead of one based on price?
it had major shortages of many goods and services
What is priority sectors?
Priority sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. Typically, these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.
disadvantage of planned economy?
Lack of incentives to work hard in planned economy Sometimes poor quality of goods and shortages Failure to meet set ideals or consumer needs. Lack of varieties of goods and services Consumers can choose only those goods or services which are produces and decided by the government
Shortages or spikes in which of the following can have a potential impact on a global economy?
energy
Who decides what goods and services will be produced in a market economy?
In a market economy, it is the producer, typically influenced by the demands of the consumer, who makes decisions about what to produce. This is in contrast to a command economy where the government makes those decisions.
How long does priority mail take from Indiana to Alabama?
It will take about 2 - 3 days economy shipping, 1-3 priority shipping.
What are the production distribution and consumption of goods and services?
An economy is a system for producing goods and services.
Why did the former soviet union use a command economic system instead of one based on price?
it had major shortages of many goods and services
For whom are goods services produce in a market economy?
In a market economy, goods and services are produced for consumers.
What is priority sectors?
Priority sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. Typically, these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.
What economy accepts goods and services in exchange for commodities?
barter economy
How does the invisible hand of competition set a market price in a market economy?
b. Shortages always raise prices and surpluses always reduce prices until competition produces a price where there are no more surpluses or shortages. ;D
What sector of the economy is dentistry?
Services
What Type of economy in which the government decides which goods and services will be available?
A command economy is one in which the government decides which goods and services will be available. There is officially no free market in a command economy.
