What are the features of free market economy,centralised economy, and mixed economy?
Answer:
in a centralized or planned economy, the govt decides how many shoes, etc will be produced this year (regardless of how many are actually needed by the population).
In a free market, consumers decide how many get produced through their purchases.
A mixed economy has consumers making the choices on things like shoes but the government making the choices on things like defense spending (which is better handled by centralized planning).
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