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17 August, 10:46

In 2 or 3 sentences, explain what determines the allocation of resources and distribution of goods in a market economy versus a planned economy.

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  1. 17 August, 14:29
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    The allocation of resources and subsequent distribution of goods in any economy is determined by the ruling body of people. A market economy dictates that the consumer is the sole determinant of production often predicated on established dependence through past allocation of productive capital by the governing body.
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