Question

Which of the following best denotes the reason for the existence of substantial black markets?a market-oriented economya command economygovernment laws and rulesthe microeconomy

Answer 1

Answer:

A command economy

Explanation:

Also seen as communism, this is an economic system where the government totally eliminates the forces of the market and acts solely to decide price of goods, size of output and what should be produced. This is a direct opposite of the capitalism or free market economy and could be likened to the economic system of Cuba.

Here the means of production is the hands of government.