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8 February, 03:52

Read the information above about two countries, Country A and Country B. Which of the two countries shows signs

of having a command economy? Explain your answer.

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  1. 8 February, 07:21
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    A command economy is where a central government makes all economic decisions. Either the government or a collective owns the land and the means of production. It doesn't rely on the laws of supply and demand that operate in a market economy. A command economy also ignores the customs that guide a traditional economy. In recent years, many centrally-planned economies began adding aspects of the market economy. The resultant mixed economy better achieves its goals.
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