In a command (planned) economy, which of the following is true?

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Prices serve as the main motivator for production decisionsThe government directs how resources are distributedPrivate companies independently decide their production methods and outputsThe private sector dominates economic activitiesMarket competition determines resource allocation

Explanation

In a command or planned economy, the government controls resource allocation rather than relying on market forces or price signals. Individual firms do not independently decide production, and the public sector typically plays a significant role.