Who in essentially planned economy decides what goods and services will be produced with the scars resources available in that economy
Added by Carolyn C.
Your feedback will help us improve your experience
Pavitr Ahuja and 54 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
If a society decides to produce consumer goods from its available resources, it is answering the basic economic questions
Pavitr A.
If a society decides to produce consumer goods from its available resources, it is answering the basic economic question,
Rachel G.
What is the primary factor in determining who receives the goods and services that are produced in a market economy? Who you know, one's income, how badly you need the good or service in question, age, with priority given to the very young and the very old.
William F.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD