Economics · Types of Economies
In a command economy, which of the following is most likely to occur?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1International trade is unrestricted and determined by global market forces.
- 2Private enterprises freely compete without government interference.
- 3Government decides production, allocation of resources, and pricing of goods.✓
- 4Prices are determined entirely by market demand and supply.
Correct answer
Government decides production, allocation of resources, and pricing of goods.
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