In a command economy also known as a planned economy government central planners determine what goods and services will be produced the amount of goods and services produced and at what cost. In a command economy the government controls major aspects of economic production.

Aks 36a I Can Compare Contrast How Traditional Command And Market Economies Answer The Economic Questions Of 1 What To Produce 2 How To Produce And 3 For Whom To Produce Diagram Quizlet

Command Economy An economic system where the government determines what goods should be produced how many goods and their prices.

What is produced in a command economy. The state authority determines the types of goods and services to be produced and provided as well as the quantity and prices that will be offered in the marketplace. The command economy is a type of system where the government plays the principal role in planning and regulating goods and services produced in the country. Click to see full answer.

The State May Own Businesses. The government rather than the traditional free market economy laws of supply and demand mandates which goods and services will be produced and how they will be distributed and sold. He Amount Of A Good Supplied Is Always Equal To The Amount Demanded.

The government decides the means of production and owns the industries that produce goods and services for the public. Workers are not motivated and therefore shortages are common. In a command economy also known as a centrally planned economy the central government controls all major aspects of a nations economy and production.

The State Decides How To Distribute What Is Produced. Which Of The Following Is False About A Command Economy. In a command economy the central government decides what goods and services will be produced what wages will be paid to workers what jobs the workers do as well as the prices of goods.

The government prices and produces goods and services that it thinks benefits the people. The Government Decides What Is Produced. The major difference between a command economy and a market economy is that a command economy the government controls what is produced and how it will be shared and in a market economy people have more freedom and can make their own decisions.

In such a system determining the proportion of total product used for investment rather than consumption becomes a centrally made political decision. The primary group for whom goods and services are produced in a traditional economy is the tribe or family group. Command economy economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.

There is no private ownership of land or businesses. In a command economy the central government decides what goods and services will be produced what wages will be paid to workers what jobs the workers do as well as the prices of goods. The primary group for whom goods and services are produced in a traditional economy is the tribe or family group.

The Government Decides How To Produce The Goods And Services.