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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 990 |
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The result is open competition by two individuals who are willing to produce these goods through their own decisions.
China is an example of a command system. The government of China owns most of the property resources and a central board makes the the vast majority of the decisions concerning the use of the government owned resources...
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For instance, the government of China owns the oil of the company thus they are able to allocate its production based upon its derectives. Economic System is, “a particular set of institutional arrangements and a coordinating mechanism – to respond to the economizing problem†(McConnell & Brue, 2004, p...
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