Question

1. In a command economy, the people own all the business. A. True B. false
2. Which of the following is a negative aspect of command economies? A. based on supply and demand. B. The citizens make all of the money .C. The citizens often regulate the economy. D. The government limits entrepreneurship.
3. Which type of Economy does Australia have? A. market. B. command C. communist. D. Traditional.
4. Australia has an economy based on? A. limited trade. B. Government control. C. Minimal trade. D. trade, manufacturing , services and finance.
5. List three most important questions an effective economy system should answer?
6. In a paragraph, describe Australia's economic system and compare it to at least one other type of economic system . Use at least three vocabulary words from page three in answer.

Answer 1

Answer:

In a pure command economy, there is no competition, as the central government owns or controls all business.