GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a ____ the resources are owned and controlled by the government.
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Command Economy
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Market Economy
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Mixed Economy
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Traditional Economy
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Explanation:
Detailed explanation-1: -The USSR is the quintessential example of a centrally planned economy. A centrally planned economy or a command economy is one where the price and allocation of resources, goods and services is determined by the government rather than autonomous agents as it is in a free market economy.
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