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4 Cards in this Set
- Front
- Back
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Centrally planned economy |
Is a system in which central government officials make all economic decisions |
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Socialism |
Is an economic system in which the government owns some or all of the factors of production |
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Communism |
Is an economic system in which the government owns all the factors of production and there is little or no political freedom |
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Authoritarian |
Systems require absolute obedience to those in power |
