Economic Systems

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Title: Economic Systems

Essay Details:

Subject: Business

Author: Timothy S

Date: March 9, 2015

Level: University

Grade: A

Length: 4 / 1093

Essay text:

Command economy is also sometimes called planned economy. The expectations of this type of economy is that all major decisions that related to the construction or production, distribution, commodity and service prices are all made by the government. However, in market economy, national and state governments play a slight role. The assumption of the market plays a major role in deciding the right path for a country’s economic development. Mixed economy combines elements of both the command and market economies in one interrelated system. Certain features from both market and command economic systems are taken to form this type of economy...

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