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A command economy is a key aspect of a political system in which a central governmental authority dictates the levels of production that are permissible and the prices that may be charged for...
command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.
A command economy—or centrally planned economy—is a system in which the government controls all facets of the nation’s economy. All businesses and housing are owned and controlled by the government.
A command economy is a system in which a government plans its economics to attain societal goals. Learn characteristics, pros, cons, and examples.
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 free-market economy,...
What Is a Command Economy? A command economy is an economic system where a central authority, such as the government, plans and controls the production and distribution of goods and services. This type of economy is usually associated with countries governed by communist or socialist regimes.
A command economy is part of a system in which the government controls the production and prices of the economy. A command economy is the main alternative to the decentralized, market-based systems in capitalist societies.