Economy, asked by Efrin, 9 months ago

Difference between centrally planned economy and market economy

Answers

Answered by gk3977948

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$\huge\bold\blue\bigstar{Answer}$

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 marketforces of supply and demand

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