role of money in capitalist socialist and mixed economy
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Money played a very important role in all the forms of the economy (i.e., socialist, capitalist, and mixed economy). It is because all the economic activities revolve around learning profit for the benefit of the people as a whole. However, its role differs from one form of economy to another.
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Answer:In a capitalist economy, money controls the consumption, production, distribution, exchange, capital formation, etc. functions of the economy. ... Under socialism too, money plays some direct roles such as a measure of value, a medium of circulation, means of payment, etc.
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