Which is the best definition of a command economy? A. an economy based on supply and demand
B. an economy managed by the government
C. an economy based on one type of product
D. an economy under the command of workers
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Which is the best definition of a command economy? A. an economy based on supply and demand
B. an economy managed by the government
C. an economy based on one type of product
D. an economy under the command of workers
The best definition of a command economy is B. an economy managed by the government.
In a command economy, the government makes all decisions regarding the production and distribution of goods and services. This means that the government controls resources, sets prices, and determines what products are produced, rather than leaving these decisions to the free market. This system contrasts with a market economy, where supply and demand dictate economic activity.
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