Question

How do free market and planned economies differ in the allocation factors factors of production. provide examples

Answer 1

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts.

In a command economy, governments own the factors of production such as land, capital, and resources.

Most nations operate largely as a command or market economy but all include aspects of the other.

The type of economy also influences the political and social landscape of a nation, with command economies being more authoritarian and market economies allowing for more personal freedom.

Answer 2

Makret planned econmies differ in the allocation facters of production because of the stock market crash

Step-by-step explanation:

Some examples will be the stock market crash