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Free market economics, mixed economies and command economy (Frree market,…
Free market economics, mixed economies and command economy
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Frree market
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Forces of supply and demand work together to determine what price and quantity of goods and services are supplied
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Command economy
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State decodes what, how and for whom to produce
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Disadvantages are lack of choice, lack of competition, limit on human capital and encourages people to be lazy and unproductive
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