Question

How does each type of economy answer the three basic economic questions?

Answer 1

Answer:

The 3 economy systems are "Centrally planned", "Market" and "Mixed". A further explanation is given below.

Explanation:

• Centrally Planned: This same majority influences what and when to make, how and where to manufacture, and whose should generate.
• Market: The government regulations through supply side remain connected to any commercial development.
• Mixed: Finally, it is indeed a hybrid economy with aspects of something like a planned and perhaps a market system.