I think the main questions each economy has to ask in order to provide services are what to produce, how to produce, and for who to produce. Am I right?© BrainMass Inc. brainmass.com October 10, 2019, 5:17 am ad1c9bdddf
Yes, in order to produce any good or service, the economy must determine what it is that is to be produced, how much of it is needed, and who should receive it. In capitalism, these decisions are driven by the market: higher prices encourage greater production of a particular ...
The questions each economy must address and how socialist and capitalist economies differ in their solutions to these questions.