Buy custom The Difference Between Market, Mixed And Economic System
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Business
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Number of pages / Number of words: |
3 / 787 |
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(Dictionary) This system is sometimes called a centrally planned economy. In here we can see how the government dominates the direction of the entire macro- economic policy and the entrepreneurial activity and how the market force is not allowed to do so at any considerable degree. (Business Dictionary)It only allows some freedom for economic decisions about employment and consumption at the household level...
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(Business Dictionary)It only allows some freedom for economic decisions about employment and consumption at the household level. In other words, there is state control of the factors of production and centralized state planning, meaning what to produce, how to produce it, and who to produce it for, but with some freedom for individual decisions, like which job to take or to whom work for...
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