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In a planned economy, the government plays a central role in directing economic activity, making decisions about production, investment, and distribution of resources. By establishing specific goals and allocating resources accordingly, the government aims to address issues such as unemployment, resource scarcity, and inequality. This centralized approach allows for coordinated efforts to meet the needs of the population, potentially leading to more equitable outcomes. However, it can also result in inefficiencies and a lack of innovation due to limited competition and market signals.
What else can I help you with?
How market forces help to solve basic economic problems?
how does the market mechanism solve the basic problem of free market economy?
How the social market economy may be used to solve the economic problems?
through provision of resources that are scares, to satisfy the needs and wants.
How does the mixed economy solve the basic economic problem?
A mixed economy solves the basic economic problems in various ways. For instance the challenge of what to produce is resolved through price mechanisms.
What traditional methods solve economic problems?
Inflation
How can Cuba solve it's economic problems?
By getting rid of Castro
How market forces help to solve basic economic problems?
how does the market mechanism solve the basic problem of free market economy?
How the social market economy may be used to solve the economic problems?
through provision of resources that are scares, to satisfy the needs and wants.
How does the mixed economy solve the basic economic problem?
A mixed economy solves the basic economic problems in various ways. For instance the challenge of what to produce is resolved through price mechanisms.
Explain how japan planned to solve its economic problems?
For several hundred years, beginning in the 16th century, Japan planned to expand its boundaries. The leadership of the nation felt it was needed because of the lack of resources available on the island nation.
What traditional methods solve economic problems?
Inflation
How did Britain plan to solve these economic problems?
trade
How can Cuba solve it's economic problems?
By getting rid of Castro
How did Bolsheviks try to solve russia economic problems?
By nationalising everything.
Why did Van Buren do little to solve the nations economic problems during the depression?
because of economic wealth
What problems faced Ford and carter?
Carter and Ford both faced economic problems but neither could solve the problems.
Why president Van Buren do little to solve the nation's economic problems?
he was not happy
What kind of problems did proressives attempt to solve?
The progressives attempted to solve many problems. The attempt on solving these problems was done through government action to provide political, economic, and social, reform.
