Economics WAEC

In a centrally planned economy, what to produce is?

A. determined by the forces of demand and supply
B. driven by profit motive
C. determined by consumers
D. the responsibility of the state’s bureaucrats

Correct Answer: Option D

D. the responsibility of the state’s bureaucrats

Explanation

A centrally planned economy is an economic system in which a single authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products.

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