Which of the following best describes a 'command' ('planned') economy?

Question

BlackTom AI · Accepted Answer

A command (planned) economy is one in which the central government allocates resources, sets output targets and often controls prices and ownership of major industries.

1. Relevant knowledge points and concepts
- Command (planned) economy: central planning authority makes key economic choices (what to produce, how much, how to produce, and distribution).  
- Market (capitalist) economy: firms and consumers responding to price signals decide production and consumption.  
- Mixed economy: combination of government and private decision-making.  
- Economic decision-makers: governments, firms (producers), and consumers (buyers) — which party has primary control distinguishes systems.

2. Step-by-step reasoning
- The phrase "command" or "planned" implies centralized direction.  
- If the government plans output and allocation, it is exercising control over economic decisions.  
- Compare each option to the definition: only the description that assigns decision-making to the government matches the central-planning concept.

3. Calculations
- No numerical calculations are required for this conceptual question.

4. Why the correct answer is correct
- Option c states: "An economic system where the government makes all of the economic decisions." This directly matches the definition of a command/planned economy: decision-making is centralized in government agencies or planners rather than dispersed among private firms and consumers.

5. Why the other options are incorrect
- Option a ("both firms, governments and consumers make all of the economic decisions") describes a mixed system, not a purely planned one.  
- Option b ("firms make all of the economic decisions") describes a market-dominated or firm-controlled system, not a command economy.  
- Option d ("consumers make all of the economic decisions") is inaccurate because consumers alone cannot dictate production in any standard economic system; consumer sovereignty exists mainly in markets, not in planned economies.

6. Conclusion
- Therefore, the correct choice is c. This matches the provided answer: c. An economic system where the government makes all of the economic decisions.

Which of the following best describes a 'command' ('planned') economy?单项选择题

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