GK
WORLD HISTORY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a command economy, which group controls the means of production?
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Businesses
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Citizens
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Governments
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Arbiters
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -The former Soviet Union, Cuba, and North Korea all have command economies. China had a command economy until 1978 when it began the transition to a mixed economy that incorporated both communist and capitalist features. Its current economic system is referred to as a socialist market economy.
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