In a command economy, the three basic economic questions—what to produce, how to produce, and for whom to produce—are answered by the government or central authority. This planning body determines production goals and resource allocation based on perceived societal needs and objectives, rather than market forces. The focus is typically on meeting the needs of the community or the state, rather than individual consumer preferences.
discuss the basic economic problem?
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
Command Economy. An example would be North Korea.
traditional > <
The basic economic questions are answered by the customs of the past. A+
discuss the basic economic problem?
The government answers the three economic questions in a command economy.
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
government
guide the economy
Command Economy. An example would be North Korea.
traditional > <
The basic economic questions are answered by the customs of the past. A+
controlled
Controlled
The basic economic questions are answered by the customs of the past.
central government alone