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In a command economy system, all economic decisions are made by the government or a central authority. This includes determining what goods and services are produced, how they are distributed, and the prices at which they are sold. The government typically sets production targets and allocates resources according to its economic plans, aiming to achieve specific social or economic goals rather than responding to market forces. As a result, individual consumer preferences and market competition play a minimal role in shaping the economy.
What else can I help you with?
What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
What is An economic system in which the government makes all economic decisions?
it's called a command economy
In which economic system does the government make most economic decisions?
command economy
What is system in which the major economic decisions are made by the central government?
Command economy
What kind of economic system does a communist government have?
Communist governments use what is known as a command economy. In a command economy, the government owns everything, employs everyone, and makes all economic decisions.
What is an economic system characterized by a central authority which makes major economic decisions?
Command Economy. :D
What is An economic system in which the government makes all economic decisions?
it's called a command economy
In which economic system does the government make most economic decisions?
command economy
What is system in which the major economic decisions are made by the central government?
Command economy
What is the command system?
Command system is when the government makes decisions or when the economic decision is taken by the central body. This type of system contrasts the market economy.
What kind of economic system does a communist government have?
Communist governments use what is known as a command economy. In a command economy, the government owns everything, employs everyone, and makes all economic decisions.
Match the economic system with the players who are responsible for the important economic decisions?
Command economy: Government planners. Free-market system: Costumers and producers. Mixed economy: Government officials and producers
Match the economic system with the players who are responsible for the important economic decisions.?
Command economy: Government planners. Free-market system: Costumers and producers. Mixed economy: Government officials and producers
What is Brazil's economic system?
command economy
Which two countries come the closest to having a purely command economic system?
North Korea, Vietnam, and portions of China are areas that come closest to having a purely command economic system. In a command economy, most economic decisions are made by the government rather than the free market.
What are other names for traditional economy?
command economy
An economic system in which the central government directs all major economic decisions?
an economic system in which the central government directs all major economic decisions
