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(also called a centrally planned economy, socialism or communism) an economic system that is controlled and organised by the state, which makes all the decisions about the development of the economy and also owns all the resources
when one or a few sellers control the supply; they have the power to set the prices.
the change in price is exactly the same percentage as the change in the quantity demanded.
(also called deficit) when estimated expenditure is greater than revenue.
the percentage increase per year in proportion to the total population that live in urban areas...
the total amount of money that is available in the country.