Which statement best describes a command economy?
A) The production of goods and services is determined primarily by markets,but the allocation of goods and services is determined primarily by government.
B) The production of goods and services is determined primarily by government,but the allocation of goods and services is determined primarily by markets.
C) The production and allocation of goods and services is determined primarily through markets.
D) The production and allocation of goods and services is determined primarily through government.

Question

Quizplus · Accepted Answer

A command economy is an economic system in which production and allocation of goods and services are determined primarily through government. The government controls what goods and services are produced, how much is produced, and at what price they are sold. This system is also known as a centrally planned economy.

Which Statement Best Describes a Command Economy