In the Kingdom of Saudi Arabia the government controls every aspect of oil production which makes up the majority of the country's economy. While other businesses are owned by individuals, the biggest segment of Saudi Arabia's economy is oil production.

Question

In the Kingdom of Saudi Arabia the government controls every aspect of oil production which makes up the majority of the country's economy. While other businesses are owned by individuals, the biggest segment of Saudi Arabia's economy is oil production.

Saudi Arabia's economy would BEST be described as
Responses
A a Mixed economy with large amounts of Command.a Mixed economy with large amounts of Command.
B entirely Command.entirely Command.
C entirely Market.entirely Market.
D a mixture between just Market and Traditional.

Answer 1

The correct answer is B, entirely Command. In a command economy, the government controls all aspects of the economy, including production and distribution of goods and services, and determines prices and wages. In Saudi Arabia, the government controls every aspect of oil production, which is the largest segment of the country's economy, indicating a command economy.