Which of these is a characteristic of a pure command economy?

Multiple Choice:

O The goods and ser ces that a country produces are planned by consumers.

O All businesses are owned by the state.

O Prices are determined by market forces.

O There is free and fair competition between private producers.

Question

Marisol Austin

Business

12 December, 15:26

Which of these is a characteristic of a pure command economy?

Multiple Choice:

O The goods and ser ces that a country produces are planned by consumers.

O All businesses are owned by the state.

O Prices are determined by market forces.

O There is free and fair competition between private producers.

+4

Answers (1)

Know the Answer?

Micaela Dudley · Answer 1

The correct answer is letter "B": All businesses are owned by the state.

Explanation:

A Pure Command Economy is one where the government controls all he economy, functions as the central planner, determines production quotas and rates of distribution, and sets prices. There are such economies in communist or socialist states like China, North Korea, and Cuba.

Which of these is a characteristic of a pure command economy?Multiple Choice:O The goods and ser ces that a country produces are planned by consumers.O All businesses are owned by the state.O Prices are determined by market forces.O There is free and fair competition between private producers.