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:

Global Village

Refers to the concept of the entire world becoming more interconnected and accessible, making distance less significant in terms of communication and cultural exchange.

Mass Media

Refers to a diverse array of media technologies that reach a large audience via mass communication, including newspapers, television, radio, and the internet.

Johannes Gutenberg

A German blacksmith, goldsmith, printer, and publisher who introduced printing to Europe with his mechanical movable-type printing press.

Mass-Media Product

Content such as news, entertainment, or advertising, produced and disseminated via mass media outlets like television, radio, and the internet.