Explain how the following economic systems are different from each other Traditional, Command
& Free Market economies.

Answers

Answer 1

Answer:

An economic system is a means by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country. Economic systems regulate the factors of production, including land, capital, labor, and physical resources. An economic system encompasses many institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given communityTypes of Economic Systems

There are many types of economies around the world. Each has its own distinguishing characteristics, although they all share some basic features. Each economy functions based on a unique set of conditions and assumptions. Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and market economies.

 

1. Traditional economic system

The traditional economic system is based on goods, services, and work, all of which follow certain established trends. It relies a lot on people, and there is very little division of labor or specialization. In essence, the traditional economy is very basic and the most ancient of the four types.

Some parts of the world still function with a traditional economic system. It is commonly found in rural settings in second and third world nations, where economic activities are predominantly farming or other traditional income-generating activities.

There are usually very few resources to share in communities with traditional economic systems. Either few resources occur naturally in the region or access to them is restricted in some way. Thus, the traditional system, unlike the other three, lacks the potential to generate a surplus. Nevertheless, precisely because of its primitive nature, the traditional economic system is highly sustainable. In addition, due to its small output, there is very little wastage compared to the other three systems.

 

Explanation:

2. Command economic system

In a command system, there is a dominant centralized authority – usually the government – that controls a significant portion of the economic structure. Also known as a planned system, the command economic system is common in communist societies since production decisions are the preserve of the government.

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Answer 2

Traditional market economies are often based on customs and history,  possibly following the beliefs of a family, clan, or tribe. Command economies are often controlled by the government, and free-market economies are based on supply and demand with little to no government control.

Examples:

Communist Russia = Command Economy

Present-day America = Free-Market Economy

Uncolonized Africa = Traditional Market Economy


Related Questions

public Administration conclusion please ​

Answers

Conclusion On Public Administration The roll of ethics in public administration is based on the administration; administrators should be value-free when they implement public policy. I will discuss why ethics should be based on the administration and, why it should not be based on each individual worker in the administration.

Answer:

Public Administration deals with human beings who have a will and a mind of their own and are capable of thinking and acting in a number of ways. Matters of human relationships are not amenable to the technique of physical science.

Explanation:

What were some of the consequences of the Cuban Missile Crisis?

Answers

Answer:

It led to the Soviet Union removing all its nuclear missiles from Cuba and, later, American missiles from Turkey. It led to the signing of the Limited Test Ban Treaty in 1963 and a further thaw in the Cold War.

Explanation:

Cuba stayed communist and highly armed though the Soviet missiles were removed under UN supervision. Both sides considered they had secured a victory - Khrushchev had saved the communist regime in Cuba from invasion by the USA, and had negotiated a deal with the USA on the removal of their Jupiter missiles in Turkey.

C I realy hope it helps ;)

What was the role of the church?

Answers

Answer:

The basic function of the church is to be involved in every facet of the life of the believer. Holding true to this mission, Christ looked at the needs of the people, provided it, and then begun to preach out the good deeds. The church today must live up to its true billing — meeting the needs of the people.

What was the purpose of the Proclamation Line of 1763?
A. It banned colonization west of the Appalachian Mountains.
B. It banned colonization within 100 feet of Native American land.
C. It prohibited colonists from participating in trading deals with the French.
Đ. It prohibited colonists from participating in trading deals with the Spanish.

Answers

Answer:

Hello! Your answer would be, A)It banned colonization west of the Appalachian Mountains.

Explanation:

Hope I helped! Brainiest plz! Hope you make an 100%

People make choices about how to use blank resources

Answers

Answer:

effectively.

Explanation:

hope this helps youu

What land did the Persian army fail to conquer?

Answers

Answer:

Part of the archaeological remains called Perserschutt, or "Persian rubble": remnants of the destruction of Athens by the armies of Xerxes.

...

Achaemenid destruction of Athens.

4. Which nation strongly wanted to punish Germany in the Treaty of Versailles?
O A. Italy
B. Russia
Ο Ο Ο
O C. The United States
O D. France

Answers

Hopes this helps:

Answer: France

Answer:

D. France

Explanation:

Got it right on the PF test!

Hope this helps!! :D

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The Ottomans early military success was mainly due to which of the following factors? (AKS 40a)

Question 6 options:

political alliances


cavalry troops


the use of gunpowder


ruthless slaughter

Answers

Answer:

answer : the use of gunpowder

Explanation:

The Ottoman's early military success was mainly based on the use of gunpowder.

PLEASE PLEASE PLEASE PLEASE PLEASE PLEASE HELP AND EXPLAIN!!!!! NO LINKS! PLEASE GIVE A EXPLANATION!!!! THANK YOU! PLEASE EXPLAIN NO LINKS!!! THANK YOU!!!!! WILL MARK BRAINLIEST!!!
Today the United States sees the world as a global community. Countries such as Japan, Egypt, Argentina, and many European countries that have not always seen eye to eye with the U.S. now cooperate fully with this world super power. Explain why they do so.

Answers

These countries started off with disagreements and bad things happened, but the reason why they do Cooperate now is because the have a shared interest. For example when the United States and Russia had to join together despite the US not wanting to get involved because of Hitler. They all had to do the same thing which is set aside their differences and focus on what was going to help them both in the long run. Lastly, resources are also a huge component as to why they are buddies now. Every country relies on another country for a specific resource and once that resource is taken away they’ll have no where else to go, so they have to go back and forget their differences. Ie. the United States and Japan.

The emancipation proclamation had many positive outcome for the union. By asserting the? stance of the union, the proclamation helped win approval and support from abolitionist whites and blacks community for?. Additionally,by?, it dash confederate plan to get support from Europe. It also caused the union to become stronger and reduced the southern labor force.

Answers

Answer:

      a.  anti slavery

      b.  Abraham Lincoln

      c.  making abolition a war goal

Explanation:

The Union were not very successful during the first part of the Civil War and this led to a lot of discontent and lack of support for Abraham Lincoln. After the Emancipation Proclamation however, things changed as the Abolitionists and the Black Americans lent their support to him.

It also dissuaded European nations from getting involved in the conflict on the side of the Confederacy because they did not want to be seen as supporting slavery at a time when they had abolished the disgusting practice.

Answer:

a. antislavery

b. Abraham Lincoln

c. disrupting cotton cultivation

Explanation:

the First Crusade resulted in the

Answers

it resulted the Crusader victory

Answer:

the first crusade resulted in the 15 August 1096 – 15 July 1099

What historical event would you like to make a film about? Why? How can history be used in the film.​

Answers

Answer:

Martin Luther king

Explanation:

I have a dream

I hope this helps

Choose all of the items that correctly describe John D. Rockefeller. A) steel industry B) Standard Oil Company C) controlled 90% of his industry by the late 1800s D) was able to prevent his monopoly from being broken into pieces E) guaranteed his workers high wages in order to keep his product of a high quality

Answers

B,C and D because he beat competition by buying everything.I’m confused about E bc I know when he died he stated he donated his money partly bc he felt bad about not paying his employees enough.

The items that describes John D. Rockefeller are Standard Oil Company  and controlled 90% of his industry by the late 1800s.

John D. Rockefeller was one of the entrepreneurs in America to own a larger company. Rockefeller owned Standard Oil Company which included all of the oil refineries in America. The company was an American oil- refining, transporting, and producing. In 1870, John D. Rockefeller established a corporation by controlling 90% of its market.

Therefore we can conclude that option B and C are the correct answer.

Learn more about Rockefella here:

brainly.com/question/2026434

Who was the first US president to travel to communist China and Russia?
Jimmy Carter
Bill Clinton
Richard Nixon
Gerald Ford

Answers

the answer is richard nixon i believe.
Richard Nixon. Traveled to China and Russia in 1972

HELP I NEED THIS ANSWER ASAP

Use these two words in a sentence in a way that shows their meaning and relationship.
a. productivity b. domestic slave trade

Answers

Answer:

The new domestic slave trade helped increase the productivity of the plantation system by offering more slaves to work.

plz help i’ll give you brainilist

Answers

Answer:

true

Explanation:

How did the Cold War impact US politics, foreign policy, and the economy?

Answers

Answer: um not sure jus tryin to get points sorry

Explanation:

plz help i’ll give you brainilist

Answers

Answer:

True. the North didn't want any new states into the Union to be slave states they feared if they let them the slave states would take the majority and slavery would never end

True or False: The United States helped the war effort during World War II in all of the following ways 1) They bought war bonds 2) They used Kamikazes 3) Women worked in factories making war supplies

Answers

Answer:

False

Explanation:

The U.S. did not use Kamikazes. Kamikazes were a part of the Japanese military strategy.

What advantage did aircraft most contribute to World War 1?
A. They moved troops to the front quickly
B. They moved wounded troops from the field.
C. They diverted the war away from the trenches.
D. They allowed each side better reconnaissance

Answers

Answer:

They Were actually used to Drop Bombs On Targets But Since That Isn't there We Can say That They were used to move troops to the front quickly

Explanation:

craft became larger as the need for bombers grew. These aircraft could carry large quantities of explosives to drop on strategic targets, like factories and dockyards. They depended on long-range and reliability as targets were often well behind enemy lines.

Answer:the answer is D

Explanation:

20 POINTS!!!!

The goal of Stalin's scorched earth policy was

1. Forcing the Finns to surrender quickly

2. destroying anything of use to the Germans

3. forcing the French to surrender

4. punishing his political opponents

Answers

Answer:

A scorched-earth policy is a military strategy that aims to destroy anything that might be useful to the enemy. Any assets that could be used by the enemy may be targeted, which usually includes obvious weapons, transport vehicles, communication sites, and industrial resources. However, anything useful to the advancing enemy may be targeted, including food stores and agricultural areas, water sources, and even the local people themselves, though the last has been banned under the 1977 Geneva Conventions.

Kuwaiti oil fires set by retreating Iraqi forces in 1991

The practice can be carried out by the military in enemy territory or in its own home territory while it is being invaded. It may overlap with, but is not the same as, punitive destruction of the enemy's resources, which is usually done as part of political strategy, rather than operational strategy.

Notable historic examples of scorched-earth tactics include William Tecumseh Sherman's March to the Sea in the American Civil War, Kit Carson's subjugation of the American Navajo Indians, Lord Kitchener's advance against the Boers, and the setting of fire of 605 to 732 oil wells by retreating Iraqi military forces in the Gulf War. Also notable were the Russian army's strategies during the failed Swedish invasion of Russia, the failed Napoleonic invasion of Russia, the initial Soviet retreat commanded by Joseph Stalin during the German Army's invasion during the Second World War, and Nazi Germany's retreat on the Eastern Front.

The concept of scorched earth is sometimes applied figuratively to the business world in which a firm facing a takeover attempts to make itself less valuable by selling off its assets.

Answer:

2

Explanation:

The answer will be B(2) because a scorched-earth policy is a military strategy that aims to destroy anything that might be useful to the enemy.

HELP ME!! This is bible

Answers

I hope this is right...
1 = hypocrisy
2 = material
3 = tamper
4 = fair
5 = covetous
6 = industrious
7 = sluggard
8 = a servant
9 = yielded
10 = self-discipline
11 = a peaceful mind
12 = honesty
13 = a greedy person

Which country joined Great Britain, the United States, and France during World War II to form the Allied Powers? O Japan O Soviet Union O Bulgaria O Switzerland​

Answers

Answer:

Soviet Union

Explanation:

Answer:

su

Explanation:

When did Germany Surrender?

Answers

Answer:

What war?

Explanation:

Answer:

WWI  November 11, 1918

WWII: May 7, 1945

Explanation:

The Korean and Vietnam Wars took place half a world away from the U.S. and several decades ago. Many people often get the details of the two wars confused. Complete this chart to help you remember the similarities and differences between the conflicts. Korean War Vietnam War Dates and Locations Countries and/or Groups Involved Reasons for Fighting US Leaders (Government, Military, etc.) Foreign Leaders (include country represented) Major Battles (include reason for importance, outcome, effect on the war) US Public Opinion (How did Americans feel about the conflict

Answers

Answer:

The Korean and Vietnam Wars took place half a world away from the U.S. and several decades ago. Many people

Paul Revere and the impact he had on history pls help i really need it

Answers

Answer: Paul Revere had an impact on history because he took part in the Boston Tea Party and was a principal rider for Boston's Committee of Safety. In addition, he made a system of lanterns to warn the minutemen of a British invasion, setting up his famous ride on April 18, 1775.

How did Germany prevent the US from shipping goods to the other Allied countries?

Answers

Answer: Would not give up ships to transport the goods.

Explanation: From January 1919 to March 1919, Germany refused to agree to the demand by the Allies that Germany surrender its merchant ships to Allied ports to transport food supplies. ... The restrictions on food imports were finally lifted on 12 July 1919 after Germany signed the Treaty of Versailles.

Hopes this helps!

Pls mark me brainliest

the peoples party was founded to?

Answers

James Baird Weaver,
Leonidas L. Polk.

LEVI X ?

A. PETRA

B. MIKASA

C. HISTORIA​

Answers

Answer:

B

Explanation:

Answer:

Petra

Explanation:

Mikasa and Levi are probably related since they got that Ackerman good gene, Historia wouldn't really be a good fit (Not disrespecting). So Petra would be a good choice

The immigrant group that became a target for violence and discrimination in Texas during World War I was the

OGermans

O French

O British

O Americans​

Answers

Answer:

Germans.

Explanation:

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