How does a pure command economy answer the basic question of which goods and services should be produced? O a O b OOO C Od The consumers decide what should be produced. The producers decide what should be produced. The law of supply and demand drives this choice. The government decides what should be produced.

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter1: The Economic Approach
Section: Chapter Questions
Problem 3CQ
icon
Related questions
Question

How does a pure command 

How does a pure command economy answer the basic question of which goods and services should be
produced?
O a
O b
Oc
Od
The consumers decide what should be produced.
The producers decide what should be produced.
The law of supply and demand drives this choice.
The government decides what should be produced.
HOM
M
Com
MON
M
DINAMO
DONNE
HE
M
Transcribed Image Text:How does a pure command economy answer the basic question of which goods and services should be produced? O a O b Oc Od The consumers decide what should be produced. The producers decide what should be produced. The law of supply and demand drives this choice. The government decides what should be produced. HOM M Com MON M DINAMO DONNE HE M
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Absolute Advantage
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Microeconomics: Private and Public Choice (MindTa…
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Macroeconomics: Private and Public Choice (MindTa…
Macroeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506756
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Macroeconomics
Macroeconomics
Economics
ISBN:
9781337617390
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Microeconomics
Microeconomics
Economics
ISBN:
9781337617406
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning