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Which economic system best defines: Lowest amount of economic freedom?

User Pew Labs
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1 Answer

1 vote

Answer:

command economy

Step-by-step explanation:

In a command economy, the government is the only determinant of what is to be produced, its quantity, and price. All the factors of production belong to the government. The government or the central authority creates a central plan that guides all country's economic activities and decisions.

The private sector is absent in a command economy. The government is the only employer. Citizens do not have the freedom to choose what to buy, but rather what is available.

User Igor Kulman
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