Which of the following is an element of a command economy?
A. Production decisions are centralized.
B. The market decides what will be produced.
C. The means of production are privately owned.
D. The market decides distribution.
Answer: A
Economics
You might also like to view...
The natural real GDP will ________ following a fall in energy prices because
A) rise; labor productivity increases. B) fall; labor productivity declines. C) rise; employment is more attractive relative to leisure. D) A and C are both correct
Economics
An escalation or automatic adjustment provision in a purchase contract for some good deters opportunistic behavior and automatically reallocates risk as its price changes
Indicate whether the statement is true or false
Economics