which statement best describes a command economy
A command economy is an economy where the government has complete control over production, distribution, and pricing of goods and services.
A command economy is an economic system where the government has central control over the allocation of resources, production, and distribution of goods and services. The government makes all the decisions, sets the prices, and determines what will be produced and in what quantity. It is also known as a planned economy.
A command economy is an economic system in which the government has ultimate control over the production, consumption, and allocation of goods and services. In this system, the government determines what should be produced, how it should be produced, and how it should be distributed. As a result, resources are centrally planned and directed by the government rather than being determined by market forces like supply and demand.
To arrive at this answer, one can consult various reliable sources such as textbooks, academic papers, or reputable websites to understand the characteristics and principles of a command economy. Analyzing different definitions and explanations will help to develop a comprehensive understanding of the concept and enable you to select the statement that best describes a command economy.