Who owns production in a command economy?
Government
Government Controls Production in Command Economy
The government decides the means of production and owns the industries that produce goods and services for the public. The government prices and produces goods and services that it thinks benefits the people.
Who owns factors of production command?
governments
Under a command economy, governments own the factors of production such as land, capital, and resources, and government officials determine when, where, and how much is produced. This is also sometimes referred to as a planned economy.
Who owns the 4 factors of production in a command economy?
A command economy is one in which a central government makes all economic decisions. Either the government or a collective owns the land and the means of production.
Who owns the factors of production in a command economy quizlet?
Terms in this set (31)
government controls the factors of production and makes all decisions about their use.