Essays Tagged: "Produce"
What are the four functions of an economic system? Contrast the way in which the market economy and planned economy attempt to solve the economic problem.
The four functions of an economic system are what to produce, how much to produce, how to produce and whom to distribute to.The market economy is one tha ... .The planned economy however is all determined by the government so the government says how much is produced etc. and controls all the economic priorities, resources and allocates production.What to p ... resources and allocates production.What to produce refers to what type of product you are going to produce with your allocated resources. Sometimes you have to make a choice between what you are prod ...
Subjects: Social Science Essays > Economics