Question

if you lived under an economic system in which the government controlled all aspects of production, which economic system would this be ?​

Answer 1

Answer:

Planned economy

Explanation:

Planned economy is another therm given to command economy in which the government is in control of all the aspects of the production in a country's economic system. Aside from command economy, traditional economy, market economy and mixed economy are also used.

Answer 2

Answer:    Command economy

Explanation:  When a government determines all parameters of the economy, the scope of production, the types of products and goods that will be produced and exchanged, types of services, then it is a command or planned economy. This type of economy is characteristic of communism but also of some other forms of government. In this case, the market does not determine the parameters of the economy.