ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an economic system in which the government and people are used to decide how to use scarce resources?
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Market economy
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Command economy
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Traditional economy
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Mixed economy
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Explanation:
Detailed explanation-1: -Sometimes called a planned economy, in a command economy, the government decides which goods and services to produce, the production and distribution method, and the prices of goods and services.
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