Question

Country X has an economy that is tightly controlled by its powerful government, which develops economic plans, sets goals and quotas, fixes prices, and manages the distribution of goods. Where does Country X fall on the economic spectrum shown above?​

Answer 1

☞In a command economy, the government controls major aspects of economic production. The government decides the means of production and owns the industries that produce goods and services for the public. The government prices and produces goods and services that it thinks benefits the people.