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QuizMultiple Choice

Entrepreneurship — Unit test

Question 1 • IL-Economics

The government has the right to own all land, buildings, and factories in a

Answer
A
closed economy.
B
command economy.
C
mixed market economy.
D
pure market economy.

Explanation

In a command economy, the government makes major economic decisions and may own the land, buildings, and factories used to produce goods and services. A pure market economy relies mainly on private ownership, while a mixed economy combines private ownership with some government involvement.

AI-written and checked against the verified answer.

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