In which type of economic system does the government make most of the decisions about what goods and services are produced, how they are produced, and for whom they are produced?
✓ Correct Answer: Option D
A command economy, also known as a planned economy, is characterized by central government control over all major economic decisions, dictating production, distribution, and consumption of goods and services.
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This 1-level GED Exam Prep question from the Social Studies topic is part of BrainForge Quiz's free exam preparation library. Each question includes the correct answer and a detailed explanation to help you understand the underlying concept, not just memorize the answer.
How to use this page: Read the question above, consider all four options (A through D), then check the highlighted correct answer and explanation. For active timed practice, start a free GED Exam Prep practice test or use flashcards for spaced repetition review.