Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How could [ a central planner ] know how much to make of each kind every day? Couldn't the minister of bread do a survey
"How could a central planner know how much to make of each kind every day?" Couldn't the minister of bread do a survey of what people want? What would be the challenge of doing a survey and using it to determine how much to make of each kind of bread? How would the process change when people's preferences change or there is a drought in the Midwest that reduces the supply of wheat?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started