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A system in which the government owns and operates major businesses and controls other parts of the economy?
The discredited system of communism owned the means of production (factories and farms) and distribution (roads, rails, airlines). Since the Soviet Union collapsed in 1989, with China, Vietnam, Poland, and other eastern-bloc and Asian countries discovering their economies were more effective in a free-market system, only N. Korea and Cuba continue to follow communist economic doctrine - and both countries remain in economic chaos and disarray.
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What happened wben the government lifted price controls after world war 2?
When the U.S. government lifted price controls after World War II, it led to a significant surge in prices, commonly referred to as "inflation." This was due to pent-up consumer demand and a disrupted supply chain as the economy transitioned from wartime to peacetime production. The sudden increase in prices affected many goods and services, leading to economic instability and hardship for some consumers, while also stimulating economic growth in other sectors. Overall, the removal of price controls marked a shift toward a more market-driven economy.
How did the US government mobilize the economy for war?
The U.S. government mobilized the economy for war during World War II through the establishment of the War Production Board (WPB), which coordinated industrial efforts to prioritize military production. The government also implemented the draft to enlist soldiers and raised funds through war bonds and higher taxes. Additionally, agencies like the Office of Price Administration controlled inflation and rationed essential goods, while labor unions and businesses collaborated to meet wartime demands. This comprehensive approach transformed the economy to support the war effort effectively.
How were political movements in Algeria both successful and damaging to the country following World War 2?
They succeeded in overthrowing the French colonial government, but failed to establish a strong economy.
What did most wartime mobilization agencies rely on to prepare the economy for war World War 1?
During World War 1, most wartime mobilization agencies relied on government intervention and regulation to prepare the economy for war. They implemented measures such as price controls, rationing, and production quotas to ensure the availability of essential goods for the war effort. Additionally, they encouraged increased industrial production and redirected resources toward military needs.
How did government mobilize the economy for the war effort World War 1?
Congress passed the War Revenue Act of 1917. The Government borrowed money to pay for the war.
What is econony?
It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.
What is Vietnams econony?
It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.
Whats called when the government controls the entire economy?
When the government controls the entire economy, it is called a centrally planned economy.
In a what does the government controls production?
Command economy
What advantages does Cuba have being a command economy?
Because in a command economy the government is in charge of most if not all of the factors of production.
What is the form of government in which a single party controls the economy and production?
The form of government in which a single party controls the economy and production is communism.
What motivates the command economy?
Command economies are motivated by the government, which institutes how the economy will work.
A system in which the government controls all aspects of the economy is?
democracy
Communism is a system in which the government?
plans and controls the nation's economy
Is mixed economy under private control?
In a mixed economy some of the businesses are under private control and some of the businesses are run by the government. There is still a free economy if there is a mixed economy.
A government that operates a market economy MIGHT become involved in the economy?
to provide public goods and services to its citizens.
What do small businesses do for the Australian economy?
create employment and stimulate economy as they have to pay a fee to the government.
