Characteristics of a Command Economy?


A command economy is one in which the economy is controlled by a centralized body. In most cases, these centralized body is the government. Production processes, distribution of assets and merchandise, wages, and volume of production are examples of economic aspects controlled in this type of economy. Characteristics of a command economy are complete control, lack of consideration for the wishes of workers, and pricing that is beneficial to the government rather than the people.
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collectivism, communism, socialism, planned, centrally planned, public enterprises, wealth equality, government intervene, security, economic stability, cooperation, and society.
Broad goals passed down the hierarchy and eventually translated
A command economy is one in which all economic decisions are made from the top, what Westerners typically associate with the former Soviet Union. An easy way to remember is to envision
The core idea of a command economy is central planning. In a free economy -- such as a capitalist economy -- decision making is decentralized, since individual citizens and firms
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Command economy basic characteristics include a market that is controlled by the government or some other centralized force. In each case, this power has the ability ...
A command economy can be advantageous by eliminating unemployment but can also be a disadvantage by producing unnecessary products. A command economy is when the ...
China is considered to be a command economy because the finances and money decisions for Chinese society are made by the national (central) government in Beijing ...
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