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One basic economic system is command economy. Describe this system in a paragraph of 50 words.?

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One basic economic system is command economy. Describe this system in a paragraph of 50 words.

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  1. 50 words?  I'll try...

    A command economy is one in which the production of goods is planned according to a central planner's forecast of the demand/consumption of those goods.  If the planner is wrong, goods must be rationed or sold below cost to make up for the difference.

    that's 45 words.

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