In a command economy, the head of each household makes the fundamental economic choices such as
what to produce and how to produce output.
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Q215: In the circular flow diagram, firms get
Q216: A market system is characterized by the
Q217: Most market economies, such as the U.S.
Q218: Refer to the provided figure. If box
Q219: In the circular flow diagram, households get
Q221: The concept of consumer sovereignty refers to
Q222: The problems of central planning become less
Q223: Even with the use of money, exchange
Q224: The fundamental economic question regarding the distribution
Q225: Quantitative measures of managerial success, such as
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