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Which event most likely explains renewed demand in a recovery period?
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1. Introduction to Microeconomics
Introduction to Economics
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Which of the following nations has a command economy?
A
The United States
B
Norway
C
South Korea
D
Cuba
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Understand the definition of a command economy: it is an economic system where the government centrally plans and controls most of the production, distribution, and prices of goods and services.
Review the characteristics of the listed countries' economies: The United States, Norway, and South Korea primarily have market or mixed economies with significant private sector involvement.
Recognize that Cuba is known for having a command economy, where the government plays a dominant role in economic decisions and resource allocation.
Compare the economic systems of each country to identify which one fits the command economy model based on government control and planning.
Conclude that Cuba is the nation with a command economy among the options provided.
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