Question

HELP ME!

Answer 1

Who answers the three economic questions in a market economy? How is this different from a command economy?

Answer 2

Hello?

Answer 3

Do you know the 3 economic questions?

Answer 4

yes

Answer 5

Ok just to lay them out for future people and just in case you don't actually know they are What, How, and Whom

Answer 6

For (What) it is the consumers who have the power and choose what is produced.
For (How) it is generally the big boys. So firms. They decide how they will be produced.
For (Whom) it is fairly straight forward. Us the consumer

Answer 7

This is all in a free market economy of course, In a command economy things are much different. It is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. So basically all communist countries such as China and Russia. Make sense?

Answer 8

(for future reference) I would recommend you post this in the Economics section of Openstudy.

Answer 9

okay
thanks!

Answer 10

No problem ;)

Answer 11

I have a question about openstudy

Answer 12

How do I medal someone?

Answer 13

Click the (Best Respone) button in blue on the far right of my name

Answer 14

oh ok

Answer 15

BOOM

Answer 16

Welcome to OpenStudy!

Answer 17

:D Thanks!