Answer to Question #125404 in Microeconomics for Poonam

Question

discuss whether planned economy or mixed economy could produce better quality education

Answer 1

Better education could be produced by the government in that:

The government has control over a command or planned economy . In mixed economies, the government has some control, while the rest is up to supply and demand. Comand economies are characterized by large surpluses and shortages, monopolies, and prices set by the government