This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: progressively more and more. d) You can’t because according to the chart it is not possible. 7 a) b) The production possibilities frontier grows outward. 8. The Japanese put most of their resources into their economy, including the ones they would normally use for the armed forces. This generated their rapid growth. Chp 19 6. In a centrally planned economy, the government is the one who asks how, what, and for whom goods and services should be produced. It basically has total control of its economy. In a market economy, individuals make the decisions about how, what, and for whom goods and services should be produced....
View Full Document
- Spring '08
- Economics, Planned economy, Tina, Production-possibility frontier, English grade drop