What is the difference between a market economy and a command
economy?
O
A. A market economy is determined by consumers and a command
economy is determined by central authority.
B. A market economy is determined by central authority and a
command economy is determined by consumers.
O
C. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority.
O
D. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers.

The correct answer is letter "A": A market economy is determined by consumers and a command economy is determined by central authority.

Explanation:

In a market economy, economic decisions and prices are determined not by central planning but by market forces. Market forces refer to the cumulative impact of all decisions made by individuals acting in the market, such as consumers and producers.

A command economy is one in which the government controls the economy, acts as the central planner, enforces production quotas and levels of distribution, and sets prices.

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