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resource allocation
resource allocation decisions/questions
what to produce?
how to produce?
for whom to produce?
(the distribution of goods)
economic systems
Traditional (subsistence economy)
Command (planned) economy
market (free market) economy
Mixed economy
Advantages of command economy
disadvantages of command economy
advantages of (free) market economies
disadvantages of (free) market economies
advantages of mixed economy
disadvantages of mixed economy
