ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In which economic system does the government have all the power?
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Traditional Economy
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Market Economy
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Command Economy
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Mixed Economy
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Explanation:
Detailed explanation-1: -The command economy is a component of a communist political system, while a free market system exists in capitalist societies.
Detailed explanation-2: -Command Economies Explained A command economy is a system in which a central government makes all economic decisions. Either the government or a collective owns the land and the means of production.
Detailed explanation-3: -A command economy is an economic system where the government has control over the production and pricing of goods and services.
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