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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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Who answers the three economic questions in a market economy? How is this different from a command economy?
Hello?
Do you know the 3 economic questions?

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yes
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Ok just to lay them out for future people and just in case you don't actually know they are What, How, and Whom
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
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?
(for future reference) I would recommend you post this in the Economics section of Openstudy.
okay thanks!
No problem ;)
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Click the (Best Respone) button in blue on the far right of my name
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