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mixed economy

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Q: System in which the central government makes all decisions on the production and consumption of goods and services?
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Which of these describes a controlled econmic system?

The government makes decisions about production and distribution of goods and services.


Which person studies the production distribution and consumption of goods and services?

An Economist studies the production distribution and consumption of goods and services


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System that combines the free market with some government intervention?

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Intermediate consumption is an accounting concept which measures the value of the goods and services consumed as inputs by a process of production. It excludes fixed assets whose consumption is recorded as consumption of fixed capital.


What do you mean by consumption?

Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally, consumption is defined in part by comparison to production. But the precise definition can vary because different schools of economists define production quite differently. According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure - in particular, fixed investment, intermediate consumption and government spending - are placed in separate categories. See consumer choice. Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. the selection, adoption, use, disposal and recycling of goods and services).


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What economic system in which decision on production and consumption of goods and services are based on voluntary exchange in market?

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