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For each of the following, indicate whether it is more likely to be associated with a laissez-faire economy or a centrally planned economy.

1) Fundamental economic questions such as what is produced, who will receive the output, what is the price, are answered by a political bureau.

a) Centrally planned economy

b) Laissez-faire economy

2 )A farmer must turn over 90% of his harvest to the government for distribution.

a) Centrally planned economy

b) Laissez-faire economy

3) Laws governing those who can practice dentistry are abolished.

a) Laissez-faire economy

b) Centrally planned economy

Microeconomics, Economics

  • Category:- Microeconomics
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