MC11. What is the difference between a market economy and a command economy?
A. In a market economy, prices are determined by supply and demand, while in a command economy, prices are set by the government.
B. In a market economy, private individuals and firms own the means of production, while in a command economy, the government owns the means of production.
C. In a market economy, decisions are made by individual buyers and sellers, while in a command economy, decisions are made by the government.
D. All of the above.
Answer:D
MC11. What is the difference between a market economy and a command economy?
A. In a market economy, prices are determined by supply and demand, while in a command economy, prices are set by the government. B. In a market economy, private individuals and firms own the means of production, while in a command economy, the government owns the means of production. C. In a market economy, decisions are made by individual buyers and sellers, while in a command economy, decisions are made by the government. D. All of the above.