use the diagram below to answer the question. a central government sets production goals and allocates raw…
use the diagram below to answer the question. a central government sets production goals and allocates raw materials. goods and services are produced. prices are set by the central government authority. which economic system is best described by this list? market socialist economy free enterprise economy communist economy commercial economy
Answer
Brief Explanations:
In a communist economy, the central government plays a dominant role. It sets production goals, allocates raw - materials, and determines prices of goods and services. In a free - enterprise economy, prices and production are mainly determined by market forces. A commercial economy is a more general term and does not specifically imply such central - government control.
Answer:
Communist Economy