In 35 words or fewer, describe a major distinction between free-market systems and command economies.

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asked Dec 23, 2023 205k views

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Na Pro · Answer 1 · 2023-12-28T23:39:57+0000

Answer:

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production and set prices and production schedules.

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In 35 words or fewer, describe a major distinction between free-market systems and command economies.

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