Question

In a command economy, Individuals fellow thir self-interest without government intervention True or False İf false, correct the statement.

Answer 1

Answer:

False

Explanation:

In a command or planned economy, the factors of production are owned and controlled by the government.  The government makes all the significant economic decisions such as production, distribution, and pricing.  

The government prepares a central plan for the entire economy. The plan determines the production level, the goods and services to be produced, and their prices.  The central government employs all workers. The private sector does not exist.