Question

One of the three basic coordination tasks an economy has to face is . In a free-market system, the preceding question is answered by: The price mechanism Input-output analysis Central planning

Answer 1

Available options for question 1.

A. Distribution

B. Location of production

C. Timing of production

D. Reason for production

Answer:

1. Distribution

2. Central planning

Explanation:

One of the three basic coordination tasks an economy has to face is DISTRIBUTION.

In a free-market system, the preceding question is answered by CENTRAL PLANNING

This is evident in the fact that T

The three combination tasks of any economy are:

1) how to utilize its resources efficiently

2) which of the possible combinations of goods to produce

3) how much of the total output of each good to distribute

Hence, the preceding question of DISTRIBUTION, which is "which of the possible combinations of goods to produce." is answered by CENTRAL PLANNING.

This is because Central Planning is the government's effort to determine and combine possible goods to produce to enhance national economic growth.