A _______ is an economic system in which the goods and services produced,the quantity in which they are produced,and the prices at which they are sold are all planned by the government.

Question

Quizplus · Accepted Answer

A command economy is one in which the government makes all economic decisions, including what and how much should be produced, and how much should be sold for. This type of economy is also sometimes referred to as a planned economy or centrally planned economy. In contrast, a market economy is one in which prices and production decisions are made by individuals and businesses interacting in a free market setting.

A _______ Is an Economic System in Which the Goods