HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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custom and habit
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government planners
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consumers and the market
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a combination of consumers and government planners.
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Detailed explanation-1: -Command economies are controlled from the top by government planners. In general, this includes: Public ownership of major industries. Government control of production levels and distribution quotas.
Detailed explanation-2: -Central planning allows the government to marshal society’s resources for goals that might not be achieved by market forces alone. Central planning is commonly associated with socialist or communist forms of government. Other countries might resort to central planning in times of war or national emergency.
Detailed explanation-3: -A centrally planned economy or a command economy is one where the price and allocation of resources, goods and services is determined by the government rather than autonomous agents as it is in a free market economy.