The economic system in which productive assets are owned and operated by the central Governing body or Administrative authority is :
Command economy
Command economy option is correct.
A command economy is one in which the state owns the productive resources and centrally directs what is produced, how it is produced and for whom. Prices, output targets and resource allocation are set by government planning bodies rather than by market signals.
Mixed and market economies leave some or all of these decisions to private ownership and price mechanisms. Hence the system with state ownership and central direction of productive assets is a command economy.
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Important Questions from Mixed Topic (MH-SET)
.................... is a client server application that identifies each host on the internet with a unique user-friendly name.
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(i) Kernel
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(iii) Nucleus
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Codes:
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(i) Machine language
(ii) Assembly language
(iii) High level language
(iv) Natural language
Codes:
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Which part of the QR code represents the encoded data?
