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How to solve different centrally planned …

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How to solve different centrally planned problems in different economics

Posted by Sivasish Gogoi 6 years, 3 months ago

CBSE > Class 11 > Economics

1 answers

Sia ? 6 years, 3 months ago

Basic problems in Capitalist economies are solved through price mechanism, in Socialist economy through planning and in mixed economy through price mechanism and economic planning. In the same way, price of the factors of production is determined in the factor market.

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