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Item Command 1- Prices are determined by a single, central agency. 2. Consumer demand determines what is produced. 3. Private ownership of factors of production
Item Command 1- Prices are determined by a single, central agency. 2. Consumer demand determines what is produced. 3. Private ownership of factors of production 4. Intense regulation by the government 5. Laissez faire economic theory is the government policy 6. Preset production schedules are maintained 7. Government owns the factors of production 8. Investment in companies and corporations is permitted 9. Prots are not the goal of the economic system
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