Unit 1 - Economic questions
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Last updated 9:10 PM on 5/26/24
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7 Terms
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O
what to produce
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?
how to produce
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X
how much to produce
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→|
for whom to produce
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to answer these, there are two economies
centrally planned and free market
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Centrally planned economy
FOP owned by the state
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Free market economy
private FOP ownership