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Sparta was a prominent city-state in Laconia, in ancient Greece. In antiquity, the city-state was known as Lacedaemon, while the name Sparta referred to its main settlement on the banks of the Eurotas River in Laconia, in south-eastern Peloponnese.
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A centrally planned economy oppose these basic economic characteristics- Property owned by private individuals, Market pricing determination by supply and demand forces, encouragement of competition among the companies and providing a wide range of choice to consumer.