Define the market process, the command process, and the traditional process. How does each process deal with

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Define the market process, the command process, and the traditional process. How does each process deal with the basic questions of what, how, and for whom?

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Market Process The use of supply demand and material incentives eg the profit motive to decide how scarce resources are to be allocated It answers the ...View the full answer

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Managerial Economics

ISBN: 978-0133020267

7th edition

Authors: Paul Keat, Philip K Young, Steve Erfle

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Question Posted: Jun 20, 2016 12:26 AM

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Define the market process, the command process, and the traditional process. How does each process deal with

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Market Process The use of supply demand and material incentives eg the profit motive to decide how scarce resources are to be allocated It answers the ...View the full answer

Managerial Economics

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