1. Identify the Gross Domestic Product (GDP) of a) ONE ‘free’ market economy and

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1. Identify the Gross Domestic Product (GDP) of a) ONE ‘free’ market economy and b) ONE ‘planned’ economy of your choice. Provide the GDP value for each country in $.
2. How do ‘free’ market and ‘planned’ economies differ in the allocation of factors of production?
Answer these questions, do not answer in paragraph.
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I’m looking for thoughtful, complete answers. Give examples to back-up your answers to receive full credit.

 

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