Question Details

Detailed explanation and options for the selected question.

Which of the following is a feature of a command economy?

A. Private ownership of resources
B. Market-determined prices
C. Centralized economic planning
D. Competition among firms

Explanation:

Centralized planning is a hallmark of command economies, unlike market-driven or competitive systems.

Related Topics

Business Cycles and Economic Fluctuations

Revision Notes

E-Waste and Circular Economy

Revision Notes

Evolution of Indian Economy

Revision Notes

Monetary Policy in India

Revision Notes

Drone Technology in Agriculture

Revision Notes

National Infrastructure Pipeline (NIP)

Revision Notes

Micro, Small and Medium Enterprises (MSMEs)

Revision Notes

Financial Literacy and Inclusion

Revision Notes

Fisheries Sector and Blue Revolution

Revision Notes

FDI, FPI, and Capital Inflows

Revision Notes