Many of the countries which had planned economic systems have transitioned to a more market-based economic system
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Many of the countries which had planned economic systems have transitioned to a more market-based economic system in the face of numerous problems. What do you think are the disadvantages of planned economic systems? How do market economies solve these problems? Can market systems solve all problems?
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Planned economic systems also known as command economies involve central government planning and control over the allocation of resources production and distribution of goods and services While these ...View the full answer
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