Asked by Jhollo Redondo on Jun 29, 2024
Verified
In a command economy, the head of each household makes the fundamental economic choices such as what to produce and how to produce output.
Command Economy
An economic system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which goods are offered for sale.
- Comprehend the roles that individuals and governments play in different economic systems such as command and market economies.
Verified Answer
ZK
Zybrea KnightJul 06, 2024
Final Answer :
False
Explanation :
In a command economy, the government or a central authority makes the fundamental economic choices such as what to produce and how to produce output. Individual households do not have control over these decisions.
Learning Objectives
- Comprehend the roles that individuals and governments play in different economic systems such as command and market economies.