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Which is the major product of the following reaction? 2
Command Economy
An economic system where the government or central authority makes all decisions regarding the production and distribution of goods and services.
Centralized Authority
A system of organization where decision-making and power are concentrated at a single point or in a single group within the organization.
Government Intervention
Actions taken by a government to influence or regulate various activities within its economy, including markets, industries, and social policies, to achieve desired outcomes.
Collective Goods
Goods that are non-excludable and non-rivalrous, meaning that their consumption by one individual does not reduce availability to others and people cannot be effectively excluded from using them.
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