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Kelsey Burdorff
on Oct 13, 2024

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One of the characteristics of a command economy is

A) free enterprise.
B) complex markets.
C) the pursuits by individual and firms of their own self-interest without any central direction or regulation.
D) central planning.

Command Economy

An economic system where the government controls the major aspects of production, distribution, and exchange of goods and services.

Central Planning

An economic system where all major production, investment, and distribution decisions are made by a central authority, typically the government.

Free Enterprise

An economic system in which private businesses operate in competition and largely free of state control, with minimal government intervention.

  • Comprehend the distinctions among capitalist, socialist, and centrally planned economic systems.
  • Recognize the function of government within different economic frameworks.
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Lauren EllisOct 15, 2024
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