An economic system in which property resources are publicly owned and govt uses central economic planning to direct & coordinate economic activities ?
Correct answer: D. Command economy
- A. None
- B. Closed economy
- C. Open economy
- D. Command economy
Explanation
A command economy publicly owns major productive resources and uses central planning to decide how economic activity is organized. Open and closed economies describe the degree of international trade, not the ownership and planning system.
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