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Definition: a command economy is where a central government makes all economic decisions. the government or a collective owns the land and the means of production. it doesn't rely on the laws of supply and demand that operate in a market economy. a command economy also ignores the customs that guide a traditional economy. in recent years, many of these centrally-planned economies have added aspects of the market economy.
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Definition: a command economy is where a central government makes all economic decisions. the gover...
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