In market-based economies, markets determine prices which will answer the three economic questions
The markets run the economy.
What to produce
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
convince people to make certain economic decisions.
Allocation
I Would have to say what is being produced, how, whom and others can be decided after the what
What to produce
What to produce
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
what to produce
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
The question markets or governments are answering when they make decisions about how to efficiently convert resources in to goods and services is How to Produce? This is part of a planned economy which tries to improve productivity.
Markets or governments make economic decisions about how to most efficiently convert their resources into goods and services. The basic economic question that is being answer is how to produce.
What to produce
convince people to make certain economic decisions.
The Economic System are the means by which countries and governments distribute resources and trade goods and services.
Allocation
they have a governer to help make dicisions