Question

Societies organize their economies in two main ways to answer the three questions of​ what, how, and who. A society can have a __________ market centrally planned mixed economy in which the government decides how economic resources will be allocated. Or a society can have a ________ centrally planned mixed market economy in which the decisions of households and firms interacting in markets allocate economic resources.

Answer 1

Answer:

Centrally planned; market

Explanation:

The three basic questions for an economy is what to produce, how to produce and for whom to produce.  

A centrally planned economy is that type of society where the government decides the allocation of resources. The economic activities are controlled by the government or any other central authority.  

A market economy is the type of society where the allocation of resources is determined by the interaction of market forces. The economic activities are not strictly controlled by the government.