Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Describe Your A
atch the economy with its definition
Command Economy
Mixed Economy
Market Economy
: An economic system in which decisions about production and consumption are made by the government.
Economic system in which decisions about production and consumption are made by both the govermment and individual producers &
consumers.
: Type of economic system most closely associated with the phrase "Laissez-faire". (Hands off)
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