by which of the following are modern economics systems distinguished from one another
a.means of production
b.kinds of goods and services produced
c.amount of investment capital
d.degree of government involvement
thanks
can you please answer without a link
In the Communist system, the government controls almost the entire economy. In a socialist system, the government and private enterprise share this control. In the capitalist system, private enterprise has nearly free reign with a minimum of government involvement.
Shozair [Shoumic] look in your book
the answers are in there!!
-MC
i think the answer is D
is that right Ms.Sue?
Modern economic systems are distinguished from one another by various factors. These include:
a. Means of Production: This refers to how goods and services are produced. Economies can differ in the extent to which they rely on traditional methods (such as subsistence farming), labor-intensive production, or capital-intensive production (where machinery and technology play a significant role).
b. Kinds of Goods and Services Produced: Different economies specialize in producing different types of goods and services. Some focus on agriculture, others on manufacturing, and some on services like financial, education, or healthcare sectors.
c. Amount of Investment Capital: The level of investment capital in an economy can significantly impact its development. Some economies have a robust infrastructure and a high level of investment in capital goods, leading to more advanced production methods and higher economic output.
d. Degree of Government Involvement: The level of government involvement in the economy can vary across countries. Economies can range from free-market systems, where the government has minimal intervention, to centrally planned economies, where the government controls and makes decisions regarding production, distribution, and pricing.
To determine how modern economic systems are distinguished from one another, it is essential to examine these factors and analyze the specific characteristics and policies of each economy.