Question

PLEASE HELP!!!!

Characteristics of what type of economic system are being described below?

1.economy in which some/all of the basic economic questions answered by central authority
2.trade generally limited to what is produced through the influence of the government


A.Command Economies.

B.Market Economies.

C.Traditional Economies.

Answer 1

A. Command Economies

Step-by-step explanation:

The command economies are economies that are typical for the communist and socialist systems. In this type of economies, the government possesses and controls the whole economy of the nation, all of the resources, all of the manufacturing, planning all of the production, and planning all of the trade if there is any at all. These types of economies have been tried in numerous countries throughout the world, especially during the 20th century, but have shown that they are very impractical and are almost impossible to be sustained as such on the long run.