Describe a command economy and a laissez-faire economy

Reference no: EM131314638

1. Describe a command economy and a laissez-faire economy. Do any economic systems in the world reflect the purest forms of command or laissez-faire economies? Explain.

2. The nation of Rougarou is able to produce turnips and potatoes in combinations represented by the data in the following table. Each number represents thousands of bushels.

Plot this data on a production possibilities graph and explain why the data shows that Rougarou experiences increasing opportunity costs.

Reference no: EM131314638

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