Command economies are often described as socialist or communist systemsTrueFalse

A command economy features:A.the government placing some regulations on free businesses.B.people relying on customs to make economic decisions.C.private companies operating without government interference.D.the government directly controlling the production and sale of goods.

In terms of economic trends, the complete opposite to communism is:Group of answer choicesa command economyScratchsocialismScratchrevolutionary enterpriseScratchcapitalismScratchpublic enterpriseScratch

What is command economy? Define and discuss with the help of an example. 5 marks

With a communist economy system:Group of answer choicesthere is complete freedom of tradeScratchconsumers can expect a mixed economic reactionScratchthere are strong incentives for workersScratchbasic industries such as railroads and utilities are owned by government, while other industries are owned by the private sectorScratchnone of the above is true

What was the term used to describe several industrial countries and majority of these countries either practiced a socialistic system of government or a communist system of government?Question 5Select one:a.First Worldb.Second Worldc.Third Worldd.Fourth World