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15 January, 16:38

What type of economy uses a central authority

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  1. 15 January, 16:57
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    Command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.

    economic system - An organized way of providing for the wants and needs of a society traditional economy - Economic System in which basic economic activity stems from ritual, habit, or custom

    command economy - Economic System in which basic economic decisions are made by a central authority
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