Answer to Question #319300 in Economics of Enterprise for Gert

Question

After an alien invasion, Earth has to resort to the extreme protection of its resources in order to survive. A global government is elected with the mandate to control all the resources, which remain to humanity. The global government serves as a centrally directed economic system and has assumed complete responsibility for producing and distributing products and services. Which one of the following best describes the main economic system used in this new world order?

a.   The market economy

b.   The command economy

c.   Mixed economies

d.   Free-market economy

Answer 1

b. The command economy