Which of the following is an element of a command economy?
A) The market decides distribution.
B) The means of production are privately owned.
C) Production decisions are centralized.
D) The market decides what will be produced.

Question

Quizplus · Accepted Answer

In a command economy, production decisions are centralized, typically by the government, which decides what goods and services are produced, how they are produced, and who gets them. This contrasts with market economies, where these decisions are made through the interactions of supply and demand and individual choices.

Which of the Following Is an Element of a Command