Over 95% of the oil in Saudi Arabia is controlled by the government. This element of Saudi Arabia's economy shows that the oil i

Question

Otrada [13]

3 years ago

11

Over 95% of the oil in Saudi Arabia is controlled by the government. This element of Saudi Arabia's economy shows that the oil i

ndustry is most likely which economic system?

Social Studies

2 answers:

salantis [7] · Answer 1 · 2022-02-04T04:33:31+03:00

salantis [7]3 years ago

5 0

It would be a command economy

natima [27] · Answer 2 · 2022-02-04T05:35:21+03:00

Answer:

It would be most likely Command economy system'

Explanation:

The Command economy is an economic system where the production,distribution and regulation of prices is determined by the government rather than by the free market. And more importantly the means of production are public owned. So the above example clearly shows of command economy system.