BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In command economies, decisions about both allocation of resources and allocation of production and consumption are decided by the government.

Detailed explanation-2: -In a command economy, the central government dictates the level of production of goods and controls their distribution and prices. Proponents of command economies argue government control rather than private enterprise can ensure the fair distribution of goods and services.

Detailed explanation-3: -Another modern economic system is the command economy, where the government controls all economic decisions, in sharp contrast to the market economy. The government sets the price for goods and services and controls the means of production.