In a command economy, the central government alone decide the production and consumption of goods and services

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Social Studies

Elianna

16 April, 05:04

In a command economy, the central government alone decide the production and consumption of goods and services

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Ayanna Beck · Answer 1

This statement is true. A command economy, also known as centrally planned economy, is an economic system in which the central government makes all the decisions on the production and consumption of goods and services. In other words, it is an economic system in which decisions on both production and consumption of goods and services are based on voluntary exchange in markets.