Question

Ramesh decided to take all decisions related to production, such as what to produce and how to produce?
Identify and explain the concept from the illustration​

Answer 1

Answer:

free market democracy economy

Explanation:

Firstly the economy has to decide word goods and services like consumer goods capital goods peacetime goods or time goods to be produced. And secondly the economy has to decide that what proportion of the consumer goods will be produce and what proportion of the capital goods will be produced.