Which of the Following Best Distinguishes a "Command Economy" from a "Market

question 28

Multiple Choice

Which of the following best distinguishes a "command economy" from a "market economy?"

• A)​A command economy is more efficient than a market economy because decision making is centralized.
• B)​There is scarcity in command economies, but not in market economies.
• C)​Command economies are less prone to inflation than are market economies.
• D)​Production and distribution decisions are made by central planners in a command economy, but not in a market economy.

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Definitions:

GDP

The total monetary value of all goods and services produced within a country's borders in a specific time period.

Health Care Costs

The expenses associated with medical services, including treatments, medications, hospital stays, and preventive care measures.

Industrial Revolution

A period of major industrialization from the late 18th to early 19th century that transformed predominantly agrarian, manual labor-based societies into industrialized, machine-driven ones.

Thomas Robert Malthus

An English economist and demographer, known for his theory that population growth will outpace agricultural production, leading to widespread poverty.