When the factors of production (what to produce, how to do so, and how to distribute goods) are all publicly owned (no private ownership or entrepreneurship) and controlled by the government - what type of economy is it?
A.
a market economy because the government has ownership of all of the factors of production
B.
a market economy because the government is setting the prices of all goods
C.
a command economy since the government controls all of the factors of production
D.
a command economy because the government encourages entrepreneurship
C.
a command economy since the government controls all of the factors of production