Asked by Jenna Wright on Jun 13, 2024
Verified
Which of the following is considered a command economy?
A) Capitalism
B) Libertinism
C) Private enterprise
D) Communism
E) Laissez-faire market
Communism
First described by Karl Marx as a society in which the people, without regard to class, own all the nation’s resources.
- Familiarize oneself with the different economic models and their implications for business processes.
Verified Answer
TM
Tyler MatuszczakJun 16, 2024
Final Answer :
D
Explanation :
In a command economy, the government or central authority makes all decisions regarding the production and distribution of goods and services. Communism is an example of a command economy where the state controls the means of production and allocates resources according to its plans.
Learning Objectives
- Familiarize oneself with the different economic models and their implications for business processes.
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