Categories
Home/Business & Economics/When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income.

When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income.

Government control over production (answer B) is correct due to the definition of a command economy being an economic system that is centrally planned and guided by the government.

Explanation:

The characteristics of a planned economy are lessened private ownership and diminished income-driven initiative, which leads to the decrease of consumers’ buying power and eliminates answers A, C, and D.

Command economies are often prevalent in socialism and may be juxtaposed to capitalism and the capitalist free market. Vivid examples of command economies are most Latin American countries, some Asian countries, such as China, and Union of Soviet Socialist Republics that is non-existent today.

The advantages of a command economy are the growth of heavy industry and the provision of cheaper goods and services, as the government may be permitted to be less profit-driven.

Economic Systems Mixed Economies.
The Economic Spectrum (Source: https://www.adamsmith.org)
Rate the answer:
Views: 1,130
Further research on topic
Answer by Academic.tip's expert
An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2022) 'When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income'. 30 January.

Reference

Academic.Tips. (2022, January 30). When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income. https://academic.tips/question/when-compared-to-a-mixed-market-economy-a-command-economy-typically-has/

References

Academic.Tips. 2022. "When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income." January 30, 2022. https://academic.tips/question/when-compared-to-a-mixed-market-economy-a-command-economy-typically-has/.

1. Academic.Tips. "When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income." January 30, 2022. https://academic.tips/question/when-compared-to-a-mixed-market-economy-a-command-economy-typically-has/.


Bibliography


Academic.Tips. "When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income." January 30, 2022. https://academic.tips/question/when-compared-to-a-mixed-market-economy-a-command-economy-typically-has/.

Work Cited

"When compared to a mixed-market economy, a command economy typically has A) More private ownership. B) Government control over production. C) Strong consumer-buying power. D) A greater chance for a high income." Academic.Tips, 30 Jan. 2022, academic.tips/question/when-compared-to-a-mixed-market-economy-a-command-economy-typically-has/.

Copy
Which best explains what a credit score represents? A) A number showing how likely you are to have more than one credit card. B) A numerical rating that expresses how likely you are to repay your debts. C) A numerical rating that shows how much money you have in your bank account. D) A number expressing your yearly income.
How does a socialist government with a command economy manage its economy? A) The government lets producers set wages for workers. B) The government owns all homes and other forms of housing. C) The government allows consumers to make their own choices. D) The government controls factories and other forms of production.
Check the price of your paper