write three characteristics of a centrally planned economy
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They are as follows: The government makes the economic decisions. ... It is assumed that the needs of the people are not met in a market economy; therefore, in a centrally planned economy, the government controls decision-making. The government can determine the price of goods and services.
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Answer:
They are as follows: The government makes the economic decisions. ... It is assumed that the needs of the people are not met in a market economy; therefore, in a centrally planned economy, the government controls decision-making. The government can determine the price of goods and services.
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