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Economics

Q. Market Income and Socialism?

Market Income: A household's total pre-tax income obtained from its activities in formal economy, including salaries andwages, investment income and small business profits. Excludes government transfer payments.

Market Socialism: A form of socialism inwhich productive companies are owned through non-profit forms or public, but relate to each other by markets and competition (with little or no central planning).

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9579374

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