Who is responsible for making all economic decisions in a command or planned economy?

Multiple choice question for Introduction To Economics. Select an option, then review the explanation below.

Explanation

In a planned or command economy, the government centrally controls and directs all economic activities, making all key decisions regarding production, distribution, and resource allocation.

Practice related questions from the same subject.

1.Which of the following factors directly influences the supply curve?
2.Under what condition is a market considered to be in equilibrium?
3.What type of relationship is depicted when a graph shows that as the values on the horizontal axis increase, the values on the vertical axis decrease?
4.Which two elements are essential to construct a straight-line graph?
5.How can a nominal value be converted into a real value?

Who is responsible for making all economic decisions in a command or planned economy?

Explanation

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