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Earn +20 ptsQ: The most productive economy in the world is?
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What is a productive economy?
it is just a ecosystem
What is productive efficiency in economics?
Productive efficiency (also known as technical efficiency) occurs when the economy is utilizing all of its resources efficiently, producing most output from least input
All productive resources are government owned an controlled under what kind of economy?
Under a planned economy, all productive resources are government owned and controlled. This type of economy is also called a command economy.
In this system workers are most productive and a nation's economy functions most efficiently when people and businesses can pursue their economic interests privately?
laissez faire
Which kind of economy is most common in the world today?
Market Economy
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