SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which group has the greatest influence in determining what goods and services will be produced in a communist economic system?
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Farmers
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Business Leaders
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consumers
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Government officials
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Explanation:
Detailed explanation-1: -In a command economy, the government (or some other central authority) controls and steers major aspects of economic production. The government decides the means of production and owns the industries that produce goods and services for the public.
Detailed explanation-2: -The production and distribution of goods is based upon the principle “From each according to his ability, to each according to his needs.”
Detailed explanation-3: -Entrepreneurs are free to produce goods and services and sell them at a price they choose. Sellers are free to sell in markets of their choice. Consumers are free to buy any goods and services they choose.
There is 1 question to complete.