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Discuss? A centralized government owns all the resources needed for production of goods and services. The government determines what to produce, how it is produced,
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A centralized government owns all the resources needed for production of goods and services. The government determines what to produce, how it is produced, how much to charge, and the means of distribution.
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The scenario youve described is characteristic of a command or centrally planned economy where the government plays a dominant role in the control and ...
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
