Question

In a command economy, Individuals fellow thir self-interest without government intervention True or False

Answer 1

Answer:

False

Explanation:

A  command economy is also known as the planned economy. The government controls and owns all the factors of production. Usually, the government, through its agencies, prepares a central plan to manage the economy. The central plan details what will be produced, the quantities, and the prices.

The private sector is non-existent in a command economy. All productions and employment are by the government.

Answer 2

Answer:

false

Explanation:

command economy is the same as a planned economy where the prices and incomes are decided and fixed by the central government