Just so, which statement is true in a command economy?
Answer: According to command economy, the government decides which goods are produced is true. Explanation: In command economy, government determination made by central planners what product will be produced, how much of goods and services to be produced and what cost to the consumers.
Subsequently, question is, what is an example of a command economy? Alternatively, a command economy is organized by a centralized government that owns most, if not all, businesses and whose officials direct all the factors of production. China, North Korea, and the former Soviet Union are all examples of command economies.
Considering this, which statement best describes a mixed market economy quizlet?
Consumer intervention in economic choices is strictly forbidden.The government determines economic choices and makes most decisions.The decisions made by producers and consumers drive all economic choices.
What is one characteristic of command economy?
The government controls the prices of most goods. The government cannot dictate which jobs citizens hold. There may be greater opportunity to become wealthy.
