History, 11.07.2019 01:00 taliyahjhonson1

What is prohibited in a command economy? check all that apply. the control of prices and income levels the rationing of manufactured goods the personal ownership of property the influence of consumer demand the intervention of the government

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Answer from: mokietreu

The personal ownership of property and the influence of consumer demand are prohibited in a command economy.

The goal of a command economy is to create equality within a society

Further Explanation:Economic system of a country refers to the manner in which resources that are scarce are distributed within the economy of that country.Command economy This is a type of economy in which a centralized power controls the bigger part of the economic system.This type of economy creates a healthy supply of resources and rewards to people at prices that are affordable. Critical utilities such as aviation, railroads, etc. are owned by the government.Therefore, personal ownership of property is prohibited in this type of economy.Other types of economy systemMarket Economic system This is a free market economy in which households and firms determine how resources are allocated and what goods are produced and who the buyers are.There is a separation of the government and the market which prevents the government from becoming too powerful.Mixed economic system It is a combination of command economic system and market economy. The market in this case is less free of government with the exceptions of crucial areas such as defense and transport.This type of economic system incorporates capitalist and socialist policies.Traditional economic system It is a type of economic system where a surplus is rare since each member has a more specific role. They system is closely associated to land through farming.These type of economic system or societies are socially satisfied. However, this type of economic system lack access to technology and medicine.

Keywords: Economic system, Command economy

Learn aboutEconomic system: Function of economic system: Command economy:

Level; High school:

Subject: History

Topic: Economic system

Answer from: smariedegray

Personal ownership of property and influence of consumer demands are prohibited within a command economy.

The central administration of a nation allocates all-natural and economic resources for use in different economic and industrial sectors. Often the goal is to maximize industrial output and boost the nation’s economic growth and development. In most capitalist nations, the sharing and allocation of resources are determined by the market forces of consumer demands and supply by industrial or commercial supply. The principles of a command economy are in sharp contrast to the free market forces of demand and supply. In a command economy, the government centrally controls all aspects of economic and industrial output, thereby influencing market forces, and a consumer’s choices. The allocation of economic resources, its usage and distribution are also under the complete purview of the government.

Further Explanation:

A command economy necessitates the control of all economic resources under the supervision of the central government. This includes the formulation of a carefully detailed and outlined economic policy, which allows the government to understand the nation’s economic growth rate. It also aids the government in demarcating those economic sectors which are backward and helps in aiding and allocating resources towards the development of that sector. These economic policies are formulated for a specific time period, and are therefore termed as ‘year plans’. Not only do the year plans set a target for achieving these goals, but it also allows for optimum use of the country’s resources to the maximum. The centralized governmental control ensures the maximum utilization of the country’s labor to increase industrial output, and solve some of the problems of unemployment. The government also sets certain norms and standards for all industries to follow, and quality checks for every item produced. This helps in achieving a stable and buoyant economy.

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Answer Details:

Grade: Graduation

Chapter: Types of economy

Subject: Economics

Keywords:

Centralized control of resources, industrial output, market forces, government allocation of resources, year plan, quality checks.

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