The people in the market make these decisions on an individual basis.
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Government officials and legislatures make economic decisions
Government legeslatives and your mom
well i do SO DO I
The people in the market make these decisions on an individual basis.
Individuals own the factors of production and make economic decisions in a market economy. This is in contrast to a command economy, where the government makes those decisions.
Centrally Planned Economy
Government officials and legislatures make economic decisions
Government legeslatives and your mom
well i do SO DO I
it's called a command economy
Mixed economy.
In a traditional economy the economic decisions are largely based on custom. In all centrally planned economies the government makes all important economic decisions.Ê
government policies
The Market or if you want a "who", consumers and producers.
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.