Question

In Saudi Arabia, roughly 95% of the country's oil production is controlled by the government. This would suggest that most of Saudi Arabia is a ___ economy. A) Market B) Command C) Traditional Eliminate D) Free Market

Answer 1

B


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Answer 2

A command economy, or a planned economy, is where the big decisions are made at the centre by the government. In an economic system the main decisions are, for example, allocating resources like labour, capital and oil. Prices, too, are controlled. Answer: B