ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Economic Continuum
|
|
|
Economic Chart
|
|
|
Economic Crossover
|
|
|
None of the above
|
Detailed explanation-1: -In a command economy, the system is controlled by the government. A mixed economy is partly run by the government and partly as a free market economy, which is an economic system that includes no government intervention and is mainly driven by the law of supply and demand.
Detailed explanation-2: -Command economy is a system where the government decides goods production, process, quantity, and price in a country. In this system, the government also manages income and investments. A communist nation like the former Soviet Union, Cuba, and North Korea work according to this system.
Detailed explanation-3: -#1 – Partial State Control – The ownership of factors of production. #2 – Total Government Control – The state directly influences the functioning of the entities. #3 – Public-Private Control – There is a joint venture.
Detailed explanation-4: -Belarus. Cuba. Iran. Libya. North Korea. Russia.