Commmand economy: is an economic system in which a central authority makes the key economic decisions, the government owns and controls all the resources and business, prices are controlled by the state. Mixed economy: is an economy that contains both...
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Commmand economy: is an economic system in which a central authority makes the key economic decisions, the government owns and controls all the resources and business, prices are controlled by the state. Mixed economy: is an economy that contains both private and public enterprises, this economy combines elements of capitalism and socialism, steel and health care are owned by the government. market economy: system in which economic decisions are made in the market place is where buyers and sellers meet to exchange goods and services consumer choose their occupation and decide where to live.
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