Explain the meaning of both market and centrally planned economy

1.	Explain the meaning of both market and centrally planned economy
Answer» •A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the FORCES of supply and demand. •A centrally planned economy is an economic system in which the STATE or government makes economic decisions RATHER than the these being made by the interaction between consumers and BUSINESSES. ... State-owned enterprises undertake the production of goods and services.

Answer»

•A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the FORCES of supply and demand.

•A centrally planned economy is an economic system in which the STATE or government makes economic decisions RATHER than the these being made by the interaction between consumers and BUSINESSES. ... State-owned enterprises undertake the production of goods and services.

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Explain the meaning of both market and centrally planned economy​

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Explain the meaning of both market and centrally planned economy