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Author Question: What is the economic problem? How does a command economy solve the economic problem? What will be ... (Read 193 times)

saraeharris

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on: Jun 29, 2018
What is the economic problem? How does a command economy solve the economic problem?
 
  What will be an ideal response?

Question 2

Of the 840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, the largest spending increase occurred in which category?
 
  A) health care, social services, and education B) transportation and housing
  C) energy and the environment D) military, veterans, and homeland security


verrinzo

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The economic problem is that given scarce resources, how exactly do large, complex societies go about answering the basic economic questions? A command economy answers the questions through some centralized authority making decisions about what to produce, how to produce it, and how to distribute it.

Answer to Question 2

A


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