How is the central problems of economy be solved?
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The problems of economy can be solved through market and price mechanism means good production of quality goods
It can be solved by adoption of economic planning means what goods should be produced in what quantities & how should they produce depends on investment, planning & benefits of it
It can be solved by adoption of economic planning means what goods should be produced in what quantities & how should they produce depends on investment, planning & benefits of it
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Answer:
basic problems in capitalist economies are solved through price mechanism , in socialist economy through planning and in mixed economy through price mechanism and economic planning . every economic activity in capitalised economy is influenced by profit motive
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