Answer:
(a) Command
Explanation:
A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.
This ultimately implies that, in a command economy, the government owns the means of production.
Societies that operate a command economy generally practices communism.
Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.
It ultimately aims to ensure each person contributes and receives according to their abilities and needs.
Vietnam, China and Cuba are examples of communist countries that operate a command economy.
In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.
Answer:
e.people will not change the quantity of the good when the price of the good is changed.
Explanation:
When the demand curve for a good is vertical, it indicates that the demand for the good is perfectly inelastic ; a change in price has no effect on the quantity demanded.
Goods with perfect inelasticity usually have no or little close subsituites.
I hope my answer helps you
Like Haley up here did^^^^^^^^
Answer:
B
Explanation:
