Command Economy

A command economy or planned economy is where the big decisions are made at the center by the government. In an economic system the main decisions are, ...

Command economies are defined by governmental control of wages and pricing. The influence of prices extends to how they indicate the direction an economy is ...

command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns ...

an economic system in which the government controls the type, supply, and price of the goods that are produced: There is massive ...

A command economy is where all resources are owned by the government or central authority, who decides what to produce, how to produce it and who for.

A command economy is one in which a centralized government controls the means of production. This has both advantages and disadvantages when compared to a ...

A command economy is a system in which a central governmental authority sets permitted levels of production, as well as the terms of distribution and pricing.

A command economy follows an administrative-command system and uses Soviet-type economic planning which was characteristic of the former Soviet Union and ...