How does each type of economy answer the three basic economic questions?
1 answer:
Answer:
The 3 economy systems are "Centrally planned", "Market" and "Mixed". A further explanation is given below.
Explanation:
- <u>Centrally Planned</u>: This same majority influences what and when to make, how and where to manufacture, and whose should generate.
- <u>Market</u>: The government regulations through supply side remain connected to any commercial development.
- <u>Mixed</u>: Finally, it is indeed a hybrid economy with aspects of something like a planned and perhaps a market system.
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