SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Is a system of recourse management in which decisions about production and distribution of goods, and services are made by a central authority (the government normally).
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Free Enterprise
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Capitalism
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Mixed Economy
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Command Economy
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Explanation:
Detailed explanation-1: -A centrally planned economy, also known as a command economy, is an economic system where a government body makes economic decisions regarding the production and distribution of goods.
Detailed explanation-2: -Capitalism is an economic system in which private individuals or businesses own capital goods.
Detailed explanation-3: -An economic system is a means by which societies or governments organize and distribute available resources, services, and goods across a geographic region or country. Economic systems regulate the factors of production, including land, capital, labor, and physical resources.
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