Economics · Types of Economic Systems
In a Command Economy, how are the basic economic questions (what, how, and for whom to produce) primarily decided?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1By historical tradition and social customs alone.
- 2By a central planning authority or government body.✓
- 3By free interplay of private businesses without regulation.
- 4By market forces of supply and demand.
Correct answer
By a central planning authority or government body.
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