Economics · Microeconomics
In the context of economic systems, which feature is uniquely characteristic of a Command Economy but is typically absent in a pure Market Economy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Profit maximization as the primary driver for economic activities.
- 2Private ownership of all means of production and freedom of enterprise.
- 3A central planning authority determines the allocation of resources and production targets.✓
- 4The presence of a free price mechanism to determine the equilibrium of supply and demand.
Correct answer
A central planning authority determines the allocation of resources and production targets.
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