Only socialist economies need to answer the What, How , and For Whom.

Question

Quizplus · Accepted Answer

All economic systems, including capitalist, socialist, and mixed economies, need to answer the questions of what goods and services to produce, how to produce them, and for whom they are being produced. These questions are fundamental to any economy and are used to allocate resources and determine prices. However, in socialist economies, the state typically plays a larger role in answering these questions compared to capitalist economies where market forces play a larger role.

Only Socialist Economies Need to Answer the What, How