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Perform the transformation.
-Write in terms of .
Centrally Planned Economy
An economic system where the government or central authority makes all decisions about the production and distribution of goods and services.
Market Economy
An economic system where supply and demand from consumers and businesses drive the production of goods and services and set prices.
Produce
To create, manufacture, grow, or bring into existence goods or services.
Socialist Country
A nation where the government owns and controls major industries and resources, aiming to distribute wealth and opportunities more evenly.
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