The economic system in which all of the basic decisions are made through a centralized authority, such as a government agency, is termed a a. market economy. b. capitalistic economy. c. command economy. d. traditional economy.

Get a basic grasp of what each type of economic system entails. 1. Market economy: An economy where decisions about production, investment, and distribution are based on supply and demand, with little or no government intervention. 2. Capitalistic economy: An economic system in which private individuals and businesses own the means of production and are free to compete for profit, with minimal government interference. 3. Command economy: An economy where the government or a central authority makes all economic decisions, including what to produce, how much to produce, and for whom to produce. 4. Traditional economy: An economic system that is typically based on customs and traditions, with people often performing the same jobs as their parents and grandparents.

From the given options and their definitions, we can see that the economic system in which all basic decisions are made through a centralized authority, such as a government agency, is referred to as a command economy. So the correct answer is: c. Command economy.