Question
Which of the following differentiates a command economy from other types of economies? (-
a combination of private sector initiatives and government involvement in the economy
centralized economic planning by a government
a reliance on customs and local practices
the absence of government intervention
a combination of private sector initiatives and government involvement in the economy
centralized economic planning by a government
a reliance on customs and local practices
the absence of government intervention
Answers
GPT-4o mini
The option that differentiates a command economy from other types of economies is:
**centralized economic planning by a government.**
In a command economy, the government makes all decisions regarding the production and distribution of goods and services, in contrast to market economies where supply and demand determine these factors.
**centralized economic planning by a government.**
In a command economy, the government makes all decisions regarding the production and distribution of goods and services, in contrast to market economies where supply and demand determine these factors.