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The centralized kind of economy this country has.
A market economy is an economic system in which economic decisions and pricing of goods and services are guided by the interaction of individual citizens and firms in the country. There may be government intervention or central planning, but usually, the term generally refers to a market-oriented economy.
However, economists have identified six main functions of government in a market economy. The government provides the legal and social framework, sustains competition, provides public goods and services, redistributes income, modifies externalities, and stabilizes the economy.
No matter what the future holds, a business degree can help people succeed. Understanding how decisions are made, how markets work, how rules affect outcomes, and how the economy forces drive social systems can help people You will be able to make better decisions and solve more problems. It leads to success in business and life.
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