A system of economic organization in which the ownership and control of productive capital assets rests with the state and resources are allocated through central planning and political decision making is called:
A)a market economy.
B)a command economy.
C)a corporate economy.
D)capitalism.

Question

A system of economic organization in which the ownership and control of productive capital assets rests with the state and resources are allocated through central planning and political decision making is called:
A)​a market economy.
B)​a command economy.
C)​a corporate economy.
D)​capitalism.

Quizplus · Accepted Answer

A command economy is characterized by state ownership and control of productive capital assets, as well as the central planning and allocation of resources through political decision making. This system stands in contrast to a market economy, where resources are allocated through supply and demand interactions in a decentralized market. A corporate economy and capitalism both suggest private ownership and control of productive capital assets, rather than state ownership.

A System of Economic Organization in Which the Ownership and Control