"What," "for whom," and "how" are problems that must be solved by prices in a capitalistic economy but which are solved automatically in a socialist economy.

Question

Quizplus · Accepted Answer

This statement is incorrect. In a socialist economy, the government or collective ownership controls the means of production and distribution, so the "what," "for whom," and "how" problems still need to be addressed, often through centralized planning rather than market prices.

"What," "For Whom," and "How" Are Problems That Must Be