ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How does a ‘command economy’ work?
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People conduct ‘economic transactions’ freely
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The government controls all ‘economic transactions’
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Economic transactions’ are secondary to environmental concerns
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None of the above
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Explanation:
Detailed explanation-1: -Sometimes called a planned economy, in a command economy, the government decides which goods and services to produce, the production and distribution method, and the prices of goods and services. The government is the central planner.
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