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Distinguish between a centrally planned economy …

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Distinguish between a centrally planned economy and a market economy

Posted by Naina Grewal 4 years, 9 months ago

CBSE > Class 11 > Economics

1 answers

Sia ? 4 years, 9 months ago

A centrally planned economy is the one in which economic activities (production, consumption and exchange) are governed by the government. Market economy is the one in which economic activities (production, consumption and exchange) are governed by the market forces of supply and demand.

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