Which of the Following Statements Does Not Describe a Command

question 370

Multiple Choice

Which of the following statements does not describe a command economy?

• A) Government bureaucrats decide what and how much is to be produced.
• B) A command economy is sometimes called a "planned economy."
• C) Prices are set by the law of supply and demand.
• D) Producers offer a highly limited assortment of goods and services.
• E) The economy is found in countries like Iran and North Korea.

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Definitions:

Investment

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Specified Period

A set time frame or duration identified for a particular purpose, event, or agreement.

Chief Accounting Manager

A high-level executive responsible for overseeing a company's accounting activities and financial record-keeping.

Controller

A senior financial officer in an organization responsible for overseeing accounting and financial reporting.