The economic systems of the former Soviet Union, the People's Republic of China, and Cuba are best classified as:
A) traditional economies.
B) command economies.
C) market economies.
D) decentralized economies.

Question

Quizplus · Accepted Answer

The former Soviet Union, the People's Republic of China, and Cuba all had command economies, which were characterized by central planning and government ownership of most or all industries. In contrast to market economies, prices and production decisions were dictated by the government rather than supply and demand.

The Economic Systems of the Former Soviet Union, the People's