Henry lives in a country where the government gives many incentives to produce military goods and few incentives to produce consumer goods. Henry knows a more efficient way to finish his task at work and feels like sharing it with his boss. However, he has no incentive to share it. Which type of economy does Henry most likely live in?

A) command economy

B) market economy

C) mixed economy

D) traditional economy

Question

Gisselle Garrison

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12 April, 22:25

Henry lives in a country where the government gives many incentives to produce military goods and few incentives to produce consumer goods. Henry knows a more efficient way to finish his task at work and feels like sharing it with his boss. However, he has no incentive to share it. Which type of economy does Henry most likely live in?

A) command economy

B) market economy

C) mixed economy

D) traditional economy

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Answers (1)

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Thalia Brandt · Answer 1

Henry lives in a country where the government gives many incentives to produce military goods and few incentives to produce consumer goods. Henry knows a more efficient way to finish his task at work and feels like sharing it with his boss. However, he has no incentive to share it. Henry most likely lives in the command economy.

Best answer choice:

A) command economy

In this type of economy, the government takes the complete decision of production and set the price if the products and are solely responsible for the economic growth of the country.