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Krystal Velazquez
History
15 January, 16:38
What type of economy uses a central authority
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Shannon Henry
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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