The effectiveness of different kinds of incentive systems

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Q. For the countries of Austria and Albania, summarize the key characteristics of their economic systems while paying close attention to:

1. the nature and extent of individual rights. Including property ownership and property rights, freedom of mobility and employment, and extent of government ownership.

2. Explain how a command versus a market system determines what gets produced and who gets the produced goods or services.

3. Is decision-making centralized or decentralized and Explain how this affects timing and efficiency.

4. The effectiveness of different kinds of incentive systems: moral, material, and coercive.

Reference no: EM138273

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