wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

In a Command Economy, all decisions from the allocation of resources to the distribution of end products, is taken care of by the ________.

A
Government
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
producers
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
cartels formed by the producers
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
consumer forums
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is A Government

A command economy is a system where the government, to a certain extent than the free market, establish what goods should be produced, how much should be produced, and the price at which the goods are offered for sale. It also determines investment and incomes. The command economy is a solution characteristic of any communist society.

The correct option is A.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Open Economy Economics
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon