A command economy is a key aspect of a political system in which a central governmental authority dictates the levels of production that are permissible and the prices that may be charged for goods and services. Most industries are publicly owned. The main alternative to a command economy is a … See more Cuba, North Korea, and the former Soviet Union all have command economies. China maintained a command economy until 1978 when it began its transition to a mixed economy that … See more Proponents of command economies argue that they allocate resources to maximize social welfare, unlike in free-market economies, where this goal is secondary to maximizing private … See more Webcommand economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative …
In a command economy, economic decisions are made by
WebIn a command economy, O A. most decisions are made based on tradition. B. most decisions result as a mix of the price system and government planning. O C. reactions to changing conditions are almost immediate. OD. most decisions are planned by the government. O E most decisions are left to the price system. girls red book shelves
Who makes the most economic decisions in a command economy?
WebNov 15, 2024 · How are economic decisions made in a command economy? It is a hybrid a distinct economic system neither a nonmonetized command economy nor a monetized market economy. In a command economy, the government plays a central role in making economic decisions. Few free-market economies today operate entirely on the principle … WebJul 17, 2024 · Decisions made by command economy governments have historically lead to product and service shortages and surpluses, as central planners have struggled to estimate the number of goods produced ... WebStudy with Quizlet and memorize flashcards containing terms like Which is more important in a traditional economy, accumulating individual wealth or honoring tradition?, How are … girls red bermuda shorts