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In ________ economies, all productive resources are owned and controlled by the government.
dual
socialist
mixed
capitalist
- In socialist economies, the government owns and controls all productive resources. It aims for equality and equal distribution of wealth. This central planning ensures everyone's needs are met.
- In dual economies, two sectors coexist: a modern and traditional sector, often seen in developing countries. This option doesn't fit our context.
- In mixed economies, both private and government sectors play roles in resource ownership and economic decision-making. This balances market and planned economy elements.
- In capitalist economies, private individuals and corporations own and control productive resources, driven by market forces and profit motives.
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