Question: Describe how a traditional or a command system would make employment and productions decisions compared to a market system?

Describe how a traditional or a command system would make employment and productions decisions compared to a market system?

Step by Step Solution

★★★★★

3.32 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

In a market system each person decides what job he or she does The market system al... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

825-B-E-M-E (8074).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Q:

1. Compared to a pollution tax, a uniform-abatement policy is _________ (more/less) efficient because it does not exploit differences in ________across firms. 2. The command part of a...

Q:

LearnRite.com offers e-commerce service for children's edutainment products and services. The word edutainment is used to describe software that combines educational and entertainment components....

Q:

You recently graduated from college, and your job search led you to East Coast Yachts. Because you felt the companys business was seaworthy, you accepted a job offer. The first day on the job, while...

Q:

1. Describe how a traditional or a command system would make employment and production decisions compared to a market system.

Q:

Max Weber considers the formal structure as a tool for reaching different goals. This perception is still the hypothesis of many structural analyses, both for practitioners and scientists. The...

Q:

The purpose of this assignment is to be able to critique a research article including critically examining its strengths and weaknesses, internal and external validity, and where appropriate,...

Q:

A Case Study of the Navy ABSTRACT We present here a case study of an organization within the U.S. Navy that created a new organizational construct and performance management system. We explore the...

Q:

Assistive technology enables dreams. Mathew Lee (personal communication) Assistive technology (AT) provides powerful tools used to diminish disability, enable activities of daily living (ADLs), and...

Q:

Case Study: Building Community at Terra Nova Consulting Ken Ogata GarySpraakman York University Three months after his appointment as president of Terra Nova Consulting, Terry O'Reilly faced his...

Q:

Hello, I have assessment.. Step 1 : Calculate the following ratios for the latest five years using the O-S Checklist Approach, an Excel template . For an overview of the approach, read our article,...

Q:

A company has to choose one of the following two actually exclusive machine. Both the machines have to be depreciated. Calculate NPV. Cash inflows Year 0 1 2 3 4 5 Machine X -20,000 5,500 6,200 7,800...

Q:

Shelia's doctor is concerned that she may suffer from gestational diabetes (high blood glucose levels during pregnancy). There is variation both in the actual glucose level and in the blood test that...

Q:

In 2 0 2 4 . Cerson is claimed as a dependent on His perents' tax retum. Hs porents ceport tivable income of $ 2 0 0 , 0 0 0 inhied ainng fointly Carvon's parents prowided mort of his support. What...

Q:

Problem 10.22 (Continuation of Problem 10.21) (a) Draw the scatter plot for Model (Y = time |X = data bytes) (ARGUS DATA). (b) Display the results of the regression analysis in the format of Table...

Q:

A monopoly: a. Faces the market demand curve that is downward sloping. b. Has a marginal revenue curve that slopes downward and lies below its demand curve. c. Will maximize profits by producing an...

Q:

One of the necessary conditions for price discrimination to occur is that: a. Buyers in different markets have different elasticities of demand. b. The demand curve is upward sloping. c. Buyers must...

Q:

Why does a monopolist produce less and charge a higher price compared to a competitive market?

Q:

Remaining life Annual operating expenses Disposal value in 5 years 5 years $10,000 $0 5 years $7,500 $0 What are the net cash flows over the next 5 years assuming the Pizzeria purchases the new...

Q:

Holt Enterprises recently paid a dividend, Do, of $3.50. It expects to have nonconstant growth of 24% for 2 years followed by a constant rate of 5% thereafter. The firm's required return is 9%. a....

Q:

Chapter 12: Correlation Concepts 18 Score: 7/21 8/21 answered Question 21 Here is a bivariate data set. X y 27 246 19 11 19 111 26 69 48 155 16 89 5 Irse 1 24 11 25 125 22 -39 Find the correlation...