Socialist economy, economics, Microeconomics

Assignment Help:
Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benefits from socialised planned production. The government or the central planning authority makes the economic decisions of what to produce; how much to produce, how to produce and for whom to produce on behalf of the society. Thus, the government plays an all-pervasive role in the economic decisions under socialist economy.

Related Discussions:- Socialist economy, economics

Economics, What are the factors that producers in the society may take into...

What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?

Rationale in era of globalization, Rationale in era of globalisation: ...

Rationale in era of globalisation: In the present era of globalisation where countries have unprecedented access to international capital flows and where those who have borrow

Indifference curve, what is indifference curve''s theory and application

what is indifference curve''s theory and application

Working with supply and demand , When you drop by the only coffee shop in y...

When you drop by the only coffee shop in your neighbourhood, you notice that the price of a cup of coffee has enhanced  considerably since last week.  You decide it's not a big dea

Explain features of outward-oriented and inward-oriented, The main features...

The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier

Explain the terms inflation and deflation, Discuss whether inflation or def...

Discuss whether inflation or deflation is the more serious problem for an economy. Inflation is a consistent general enhance in the price level, whereas deflation is a consiste

Resource markets, Business sell to households in the resource markets, but ...

Business sell to households in the resource markets, but households sell to businesses in the product market

What is the benefit of economics in our life, What is the benefit (main wor...

What is the benefit (main work) of economics in our life?  Economics plays a very important role in development of a country. A country's economy shows the stability of that co

Theory of inter-temporal consumption, THEORY OF INTER-TEMPORAL CONSUMPTION:...

THEORY OF INTER-TEMPORAL CONSUMPTION: In the previous two units, we have been concerned with choices among contemporaneous commodities. An important class of choices made by c

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd