Question

Which of the following is associated with a command economy

A) Competitive product markets
B) Use of resources fut powete gain
C) Use of available resources to meet all the needs and wants of a citizens
D) Entry of firms into indiestries with economie profit
E) Public ownership of the means of production

Answer 1

In a command economy, the government makes all decisions about the production and distribution of goods and services, demonstrating public ownership of production means.

Step-by-step explanation:

Within the framework of a command economy, also known as a planned or communist economy, the government decides how available resources will be used to produce goods and services.

It involves public ownership of the means of production, where the state determines what is produced, how it is produced, and at what prices goods and services are offered. The government's large role extends to setting wages for workers and often providing necessities like healthcare and education for free.