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Solved: State The Two Features Of A Centrally Planned Economy. Discuss How Economic Decisions Are Made In This Setting. In The Course Of Your Answer, Develop An Input-output Table To Complement Your D

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State the two features of a centrally planned economy. Discuss how economic decisions are made in this setting. In the course of your answer, develop an input-output table to complement your discussion.



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A centrally planned economy is also known as a socialist economy where the major economic decisions are taken by the government and there is much interference in the functioning of the market economy.

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