Which of the following is correct with regard to the issue of different economic systems?
A) There is a general consensus that command economies are more efficient than market economies because a centralized government can consider a wider range of economic factors when decisions are made.
B) In recent years, more and more countries have rejected communism and embraced more market-based economies.
C) Socialism is the most extensive command economic system because government owns all the major industries.
D) A GlobeScan poll of 20 000 people in 20 different countries showed that support for a free market economy was most pronounced in Singapore.
E) All of these are correct.

Question

Quizplus · Accepted Answer

In recent years, many countries have moved away from command economies and embraced more market-based systems. Option A is incorrect, as there is no consensus that command economies are more efficient. Option C is also incorrect, as socialism does not necessarily also mean command economy. Option D may be true, but it is not necessarily the best answer as it only provides information on one country.

Which of the Following Is Correct with Regard to the Issue