passwella.
Menu

JAMB Economics 2002 Question 10

Question 10

Economic Systems

In a centrally planned economy, the economic problem of deciding what to produce is dependent on

  1. A.average profit
  2. B.state command
  3. C.average cost
  4. D.relative prices
Show the answer and explanation

Answer: B (state command)

Explanation

In a command economy the government (state) decides what, how and for whom to produce.