Post Utme Caleb University 2021 Commerce Question 26

Practice objective / multiple choice question 26 from the 2021 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2021 Commerce Objective / Multiple Choice
Question 26 POST_UTME_CALEB_UNIVERSITY • 2021 • COMMERCE • objective

In a market economy, the law of supply and demand determines the price of a commodity. However, in a command economy, the government determines the price of a commodity. Which of the following is a characteristic of a command economy?

Answer Options

A. Government control over the means of production
B. Free market forces determine the price of commodities
C. Private ownership of the means of production
Correct Answer D. Government determines the price of commodities
Correct Answer
D
Correct Option:
Government determines the price of commodities

About This Question

This is Post Utme Caleb University 2021 Commerce Question 26. It is one of the objective questions from the 2021 Post Utme Caleb University Commerce examination.

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