people in a traditional economy have a lower standard of living. in a command economy the government decides what goods and services will be produced, how they will be produced, how will they be produced, and how they will be distributed.
How are the 3 economic questions answered in a traditional economy?
Economic systems answer three basic questions: what will be produced, how will it be produced, and how will the output society produces be distributed? In a market system, resources are allocated to their most productive use through prices that are determined in markets.
How might command economies provide more freedom than free markets?
In a command economy, governments own the factors of production such as land, capital, and resources. The type of economy also influences the political and social landscape of a nation, with command economies being more authoritarian and market economies allowing for more personal freedoms.
How can you describe our economy?
An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. In an economy, the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.
How does the economy affect children and youth?
Its effects are rippling through the multiple contexts in which children and youth are situated. Within the nuclear family, stressors such as job loss, home foreclosure or loss in family savings place strain on parental relationships and on the family as a whole.
How does the economy affect the family life?
The deepening economic crisis is profoundly impacting children, youth and families. Its effects are rippling through the multiple contexts in which children and youth are situated. Within the nuclear family, stressors such as job loss, home foreclosure or loss in family savings place strain on parental relationships and on the family as a whole.
How does SES affect children, youth and families?
SES Impacts the Lives of Children, Youth and Families. Research indicates that SES is a key factor influencing quality of life, across the life span, for children, youth and families (CYF).
What is the role of families in social and economic empowerment?
functions that are associated with the social and economic empowerment of individuals and societies. The key pathways to these functions and, in turn, to social and economic empowerment include family capital and family resilience.
