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24 June, 10:11

In a command economy, who owns the factors of production

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  1. 24 June, 10:38
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    The government

    Explanation:

    In a command economy, the central government controls all the aspects of the economy. The factors of production belong to the government.

    Some characteristics of a command economy include,

    The government determines the prices of goods and services. The government decides what goods and services are to be produced, and their quantities. All the county's resources, including the land and capital, belong to the government. The governments assign jobs and set wages.
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