What is prohibited in a command economy? Check all that apply.

A. Private ownership of property
B. Competition between businesses
C. Consumer choice in purchasing goods and services
D. Centralized decision-making by the government
E. Market forces determining prices
Answer: A, B, C, E
Explanation:
In a command economy, economic decisions and production are controlled by a central authority or government. Private ownership of property is often prohibited or heavily regulated, as the government may own or control most of the resources and means of production. Competition between businesses may also be restricted, as the government may control which businesses are allowed to operate and how they operate. Consumer choice in purchasing goods and services may be limited, as the government may dictate what is produced and available for purchase. Prices are often set by the government, rather than determined by market forces. Therefore, private ownership of property, competition between businesses, consumer choice in purchasing goods and services, and market forces determining prices are all prohibited or heavily regulated in a command economy.

A command economy is an economic system where the means of production are owned and controlled by the state or government, and economic decisions are made by central planning authority rather than by the interaction of supply and demand. In a command economy, the government or a central planning authority decides what goods and services are produced, how much of them are produced, and at what price they are sold. The government also sets targets for production and distribution, and allocates resources accordingly. Private ownership of property, including land, factories, and other means of production, is typically restricted or prohibited in a command economy. In contrast to a market economy where prices and production are determined by supply and demand, a command economy relies on central planning and state control over economic activity.

Here are four characteristics of a command economy:
Centralized decision-making: In a command economy, economic decisions are made by a central authority or government rather than by individuals or businesses. The government plans and controls all economic activities, including what goods and services are produced, how much is produced, and at what prices they are sold.
State ownership of resources: In a command economy, the means of production, such as land, factories, and other resources, are typically owned and controlled by the state or government. Private ownership of property is restricted or prohibited, and economic activity is carried out through state-owned enterprises.
Absence of competition: Competition between businesses is often limited or absent in a command economy. The government may control which businesses are allowed to operate and how they operate, and may set prices and production targets for these businesses.
Limited consumer choice: In a command economy, consumer choice is often limited as the government dictates what goods and services are produced and available for purchase. Consumers may have limited access to alternative products or services, and may face shortages of goods that are in high demand but limited in supply.