Question

How will increased private ownership of land, capital and labour lead to more efficient use of resources in Cuba?

Answer 1

Answer:

The economy of Cuba is a largely planned economy dominated by state-run enterprises. The government of Cuba owns and operates most industries and most of the labor force is employed by the state. Following the fall of the Soviet Union in 1991, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. However, greater private property and free market rights were granted by the 2019 Cuba Constitution.[10][11] It has also been acknowledged that foreign market investment in various Cuban economic sectors increased before 2019 as well.