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Question
unit 1a assessment 25 - 26 select the three characteristics of a command economy. independent individuals or groups own businesses but must follow strict government regulations. the government owns the land and natural resources of the country. the government provides small business loans to promote entrepreneurship. independent individuals or groups lease the rights to state - owned land and resources for commercial use. the laws of supply and demand are typically ignored. consumer demand determines what is produced and when. the government controls the means of production, including factories.
In a command economy, the government has significant control over the means of production. Consumer - demand is not the main determinant of production. Laws of supply and demand are not the driving force. The government owns land and resources and controls production. Independent individuals or groups do not have free - ownership rights over land and resources for commercial use as in a market economy.
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The government controls the means of production, including factories.
The laws of supply and demand are typically ignored.
The government owns the land and natural resources of the country.