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26 December, 03:55

How does the command economy solve the basic economical problem

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  1. 26 December, 07:00
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    Different economies have different solutions to the basic economic problem. The different economies included are traditional, market, planned and mixed. Many different countries embrace the following varying economies. Countries included would be the United States of America, which embraces a mixed as well as market economy, Papa New Guinea, Brazil as well as other Asian and African countries embrace a traditional economy, countries such as Cuba associate with a planned economy, and countries including Cuba and the United States follow a mixed economy. All these economies are different and have different answers to questions such as what to produce, how to produce and for whom to produce.
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