28 Oct 2021
Problem 3
Page 290
Section SELF: CHECK QUESTIONS
Chapter 12: Environmental Protection and Negative Externalities
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28 Oct 2021
Introduction
Command economics is a type of economy where the decision making is controlled by the government. Unlike the free market, here the government decides the type of goods to be produced, the quantity to be produced and the price at which the goods should be offered for sale. Apart from the production, the government also controls income and investments.
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