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Exam (elaborations)

Econ 430 Exam 1 Practice Questions and Answers

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Econ 430 Exam 1 Practice Questions and Answers When is an economy capitalized - ANSWERWhen most or a substantial portion of production are in price hands rather than the government State guilded capitalism -how does it occur -problems - ANSWEROccurs: government decides which industries will g...

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  • October 30, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • 2024/2025
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©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




Econ 430 Exam 1 Practice Questions and

Answers


When is an economy capitalized - ANSWER✔✔When most or a substantial portion of production are in

price hands rather than the government


State guilded capitalism


-how does it occur


-problems - ANSWER✔✔Occurs: government decides which industries will grow (property rights are

enforced)


Problems: high chance of corruption, government selects the wrong winners, difficult to re direct


Oligarchic capitalism


-how does it occur


-problems - ANSWER✔✔Occurs: government policies are designed to promote small groups


Problems: corruption and unrest


Big firm capitalism
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, ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED

FIRST PUBLISH OCTOBER 2024




-how does it occur


-problems - ANSWER✔✔Occurs: economic system is determined by firms and ownership is widely held


Problems: less innovative and culture entitlement


Entrepreneurial capitalism


-how does it occur


-problems - ANSWER✔✔Occurs: large number of firms. Creates a lot of innovation


Problems: what happens to losers


Which state has which form of capitalism


State guided =


Oligarchic =


Big firm =


Entrepreneurial =


Pre- capitalist = - ANSWER✔✔State guided = Venezuela


Oligarchic = Saudi Arabia



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