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Thursday, August 13, 2015. The set of mechanisms and institutions that resolve economic questions for an ec onomy. Five questions every system mu st answer. What goods and services will be produced? How will the goods and services be produced? Who will get the goods and services? How will the system accommodate change? How will the system promote progress? What sets economic systems apart. Who owns the productive resources? Making process is used to allocate resources and production? Ref I, Pencil.CONTENT
This web page macroclassroom.blogspot.com states the following, "Thursday, August 13, 2015." We saw that the webpage said " The set of mechanisms and institutions that resolve economic questions for an ec onomy." It also said " Five questions every system mu st answer. What goods and services will be produced? How will the goods and services be produced? Who will get the goods and services? How will the system accommodate change? How will the system promote progress? What sets economic systems apart. Who owns the productive resources? Making process is used to allocate resources and production? Ref I, Pencil."