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JAMB Economics 2014 Question 2

Question 2

Economic Systems

The choice of how to produce in a command economy is determined by

  1. A.industrialists.
  2. B.labour unions.
  3. C.government.
  4. D.consumers.
Show the answer and explanation

Answer: C (government.)

Explanation

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