Question

What type of economy uses a central authority

Answer 1

Command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.

economic system- An organized way of providing for the wants and needs of a society traditional economy- Economic System in which basic economic activity stems from ritual, habit, or custom
command economy- Economic System in which basic economic decisions are made by a central authority