Question

In a centrally planned socialist economy, what is the central coordinating mechanism? LO2 

   In a centrally planned socialist economy, what is the central coordinating mechanism? LO2
Macroeconomics
Macroeconomics
David Colander 8th Edition
Chapter 3, Problem 2 ↓

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In this type of economic system, the government or a central authority makes all the decisions regarding the production and distribution of goods and services. This contrasts with market economies where decisions are largely driven by market forces and private  Show more…

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