Allocative mechanisms of Economic systems

Economic systems (example: capitalism versus socialism) are mainly distinguished by their relative reliance on alternative allocative mechanisms, and particularly by: (1) Who builds major economic decisions and who owns non-human resources. (ii) The level of inequality in the distribution of income. (iii) the colors of national flag. (iv) Why, how, and where production takes place.

Can someone please help me in finding out the right answer from the following question.

View Complete Question

Related Questions in Public Economics

Q : Limits of Technological Advances

Technological advances would not comprise: (i) Native Americans demonstrating Pilgrims how crops grow faster when rotten fish are dropped within with seeds they plant. (ii) pouring coffee through a coffee pot you obtained as a birthday gift. (iii) new

Q : Define the economically efficient

An economically efficient combination of resources: (w) may or may not be technologically efficient. (x) will be technologically inefficient. (y) will not be technologically inefficient. (z) automatically assures equity. Hey guys p

Q : Usefulness of Positive Economics Please

Please help me to solve the problem that is given below: Positive economics is MOST helpful within finding if: (i) Particular economic goals are good or not. (ii) A set of national goals is desirable. (iii) Specific economic t

Q : Explain about the term whom in

The fundamental economic questions are "What?”, “How?”, and “For whom”? When we ask, "For whom?", we need to know who will: (w) produce the goods. (x) consume the goods. (y) get the profits. (z) decide wh

Q : Economic assumption of rationality in

As per to the economic assumption of rationality: (w) entrepreneurs are usually more rational than employees. (x) consumers often perform in random or erratic ways. (y) people tend to behave in accord along with their goals. (z) people who are rationa

Q : Ownership of major non-labor resources

I have a problem in economics on Ownership of major non-labor resources. Please help me in the following question. Government ownership of main non-labor resources is the characteristic of: (1) Capitalism. (2) Decentralization. (3) Anarchism. (4) Soci

Q : Influence of economic good in

An economic good is everything for that: (w) increased consumption increases people's satisfaction. (x) entrepreneurship, land, labor and capital are needed. (y) an economic bad is its physical opposite. (z) producers obtain profits in place of losses

Q : Economic Capital and Per Capita Income

Assume that half of our world’s people, arbitrarily selected, were vaporized by space aliens or teleported to the parallel universe, however no other feature of life on our Earth was influenced. Avoiding any disruptions to families or psychological trauma this c

Q : Knowing the Property Rights Fee-simple

Fee-simple property rights comprise the right to: (1) Demolish things you own, sell them, or confer them away. (2) Duplicate a copyrighted work by paying the small fee. (3) Picnic in such publicly-owned facilities like national parks. (4) Employ

Q : Define the term Prices in prices and

Prices are: (w) used to ration free goods and resources. (x) zero for several scarce goods and resources. (y) the merely efficient way to assign luxury goods. (z) one mechanism for rationing scarce goods and resources.

Discover Q & A

Leading Solution Library

Avail More Than 1420784 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1932819
Asked

3,689

Active Tutors

1420784

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment