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Alexander Khalil
on Nov 25, 2024

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Which of the following is a distinguishing feature of a command system?

A) private ownership of all capital
B) central planning
C) heavy reliance on markets
D) widespread dispersion of economic power

Command System

A method of organizing an economy in which property resources are publicly owned and government uses central economic planning to direct and coordinate economic activities; socialism; communism. Compare with market system.

Central Planning

An economic system where the government or a central authority makes all decisions about the production and allocation of goods and services.

  • Assess the distinctions and implications of market systems relative to command economies.
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BZ
Bartosz ZachwiejaNov 30, 2024
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