HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Under which economic system does the government make almost all of the economic decisions?
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Command
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Market
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Traditional
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Capitalist
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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: -Command economic system In such a case, the government comes in and exercises control over the resources.
Detailed explanation-3: -In a command economy, the government determines what is produced, how it is produced, and how it is distributed. Private enterprise does not exist in a command economy. The government employs all workers and unilaterally determines their wages and job duties and product pricing.
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