Difference between a free market economy and centrally planned economy
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Free Market Economy is one free perfectly of external control. Individuals are left up to themselves to decide what to produce, who to work for, and how to get the things they need.
Centrally planned economy- A pure planned economy has one person or group who controls what is produced; all business work together to produce goods and services that are planned and distributed by the government.
Centrally planned economy- A pure planned economy has one person or group who controls what is produced; all business work together to produce goods and services that are planned and distributed by the government.
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