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xz_007 [3.2K]
3 years ago
8

What are the differences among traditional, command, and market economies?

Social Studies
1 answer:
almond37 [142]3 years ago
6 0

Answer:

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.

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