Examlex
Warren is having trouble deciding what he wants to eat for breakfast. Which lobe of his brain is especially active as he makes his selection?
Command Economy
A type of economic system where the government or a central authority makes all decisions regarding the production and distribution of goods and services.
Central Government
The government entity or authority that holds the highest level of governance within a nation, responsible for national policies and administration.
Consumer Sovereignty
The theory that consumer preferences and choices dictate the production and sale of goods and services in a market.
Laissez-Faire Economy
An economic system where transactions between private parties are free from government intervention such as regulations, privileges, tariffs, and subsidies.
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