JAMB - Economics (2002 - No. 7)
In a centrally planned economy, the economic problem of deciding what to produce is dependent on?
average profit
state command
average cost
relative prices
ব্যাখ্যা
A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products.