Question

Please Help Me

Which of the following IS TRUE about a command economy?

a
The government has NO interference in business.
b
The government controls ALL aspects of business.
c
Businesses are owned by people and corporations.
d
The United States has a strong command economy.
Question 2 (1 point)
Which of the following IS TRUE about a market economy?

a
The government DOES NOT interfere in business.
b
The government owns ALL the businesses.
c
The government sets production goals and prices.
d
Jeff Bezos owns ALL the businesses.
Question 3 (1 point)
Which of the following is considered a command economy today?

a
United Arab Emirates
b
United States
c
North Korea
d
Hong Kong
Question 4 (1 point)
Which of the following is considered a market economy today?

a
Iran
b
North Korea
c
Cuba
d
United Arab Emirates
Question 5 (1 point)
Which of the following is true about the United States' economy?

a
It is a market economy.
b
It is a command economy.
c
It has elements of market and command economies.
d
It's fudge and caramel coated with milk chocolate. There's a little sprinkle of sea salt on top.

Answer 1

A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale. a

A market economy functions under the laws of supply and demand. It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.

Step-by-step explanation: