Is decision-making centralized or decentralized and how, Ask an Expert

Economics

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. 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 how this affects timing and efficiency.

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

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M949334

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