Q7 Distinguish
between Planned economy
and market reconomy (Any 5 points)
Answers
Answered by
2
Answer:
In a theoretical market economy, supply and demand through free competition should determine prices. Supply and demand also decide investment decisions, production, and distribution. In a centrally planned economy, the government makes decisions, instead of consumers and businesses.
Answered by
2
Answer:
In a theoretical market economy, supply and demand through free competition should determine prices. Supply and demand also decide investment decisions, production, and distribution. ... In a centrally planned economy, the government makes decisions, instead of consumers and businesses.
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