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12 June, 05:43

Simple definitions for these words:

Command

Market

Mixed

(I need the definitions of the economic system)

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Answers (1)
  1. 12 June, 06:04
    0
    Definition of command economy

    : an economic system in which activity is controlled by a central authority and the means of production are publicly owned

    Definition of market economy

    : an economy in which most goods and services are produced and distributed through free markets

    Definition of mixed economy

    : an economy in which some companies are owned by the government and other companies are not
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