How is the allocation of goods and services production determined in a command economy?(1 point)
Responses
Businesses decide what to produce on the basis of market conditions.
Businesses decide what to produce on the basis of market conditions.
Consumers decide through their behavior in the marketplace.
Consumers decide through their behavior in the marketplace.
Central government planning decides what will be produced.
Central government planning decides what will be produced.
Supply and demand control production and price.
Supply and demand control production and price.
Question 2
Analyze the chart. Which statement best describes a comparison between East Asian economic systems?
(1 point)
Responses
China's ecomomy is purely market based and Japan's economy is purely command.
China's ecomomy is purely market based and Japan's economy is purely command.
China's economy is purely command, and Japan's is purely market.
China's economy is purely command, and Japan's is purely market.
Taiwan's economy is less market based than that of North Korea
Taiwan's economy is less market based than that of North Korea
North Korea has a more purely command economic system than China.
North Korea has a more purely command economic system than China.
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1 answer
Central government planning decides what will be produced.
North Korea has a more purely command economic system than China.
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