Question: When a command economy is utilized to resolve economic questions regarding the allocation of resources, which of the following consequences results? a. Everyone will receive

When a command economy is utilized to resolve economic questions regarding the allocation of resources, which of the following consequences results?

a. Everyone will receive an equal share of the output produced.b. The preferences of individuals are of no importance.c. Economic efficiency will be assured.d. The role of markets will be replaced by political decision making

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!