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GOVERNMENT EXPENDITURES: Spending by the government sector including both the purchase of final goods and services, or gross domestic product, and transfer payments. Government expenditures are used by the government sector to undertake key functions, such as national defense and education. These expenditures are financed with a combination of taxes and borrowing.

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PURE COMMAND ECONOMY: An economy in which the government makes all allocation decisions and answers all three questions of allocation. There are no markets. Government does it all. This is a theoretical ideal or extreme that does not actually exist in the real world. As a theoretical ideal, though, it does provide a benchmark that can be used for comparison with real world economic systems.

     See also | economy | economic system | government | command economy | allocation | three questions of allocation | market | pure market economy | mixed economy | communism | socialism | capitalism |


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PURE COMMAND ECONOMY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: July 22, 2018].


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UNEMPLOYMENT PROBLEMS

The two key problems resulting from unemployment of resources, especially the unemployment of labor, are personal hardships and lost production. The owners of the unemployed resources suffer personal hardships due to the lack of income. The rest of society also suffers from unemployment due to the lack of available production.

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Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for strangers with large satchels of used undergarments.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"You can't build a reputation on what you are going to do."

-- Henry Ford, automaker

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