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What is a planned economy system?
in Grade 9 EMS by Diamond (49,160 points) | 7 views

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A planned economy system is an economic structure in which the government owns and controls the means of production. In this system, the government owns the land / natural resources and businesses and pays the workers. The prices are set by the government, together with what goods and services are needed by the people. Revenues and profits gained from production of goods and services are taken by the government.
by Silver Status (28,731 points)

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