Yahoo Web Search

Search results

1. • Centralized government controls the means of production

     • 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, which is an economy where supply and demand dictate output and prices.
     www.investopedia.com › ask › answers

     Command Economy: Advantages and Disadvantages - Investopedia

2. People also ask

   What is a command economy?

   • A command economy is one in which a centralized government controls the means of production and determines output levels. Command economies stand in contrast to free-market economies, those in which the law of supply and demand determines output and prices.

   Command Economy: Advantages and Disadvantages - Investopedia

   www.investopedia.com/ask/answers/032515/what-are-advantages-and-disadvantages-command-economy.asp

   See all results for this question

   What is the difference between a command economy and a free market economy?

   • Command economies have traditionally been associated with socialist/communist nations, whereas free-market economies have been associated with capitalism and democratic nations. In reality, no economy is purely free market nor entirely controlled by a government.

   Command Economy: Advantages and Disadvantages - Investopedia

   www.investopedia.com/ask/answers/032515/what-are-advantages-and-disadvantages-command-economy.asp

   See all results for this question

   How does government control the means of production in a command economy?

   • Because the government controls the means of production in a command economy, it determines who works where and for how much pay. This power structure contrasts sharply with a free market economy, in which private companies control the means of production and hire workers based on business needs, paying them wages set by invisible market forces.

   Command Economy: Advantages and Disadvantages - Investopedia

   www.investopedia.com/ask/answers/032515/what-are-advantages-and-disadvantages-command-economy.asp

   See all results for this question

   What are the advantages of a command economy?

   • Command economies, where the government determines output levels and prices, come with many advantages, which include low or non-existent unemployment, speed in decision-making, equality amongst citizens, and a focus on the worker as opposed to profits.

   Command Economy: Advantages and Disadvantages - Investopedia

   www.investopedia.com/ask/answers/032515/what-are-advantages-and-disadvantages-command-economy.asp

   See all results for this question

3. www.investopedia.com › ask › answersCommand Economy: Advantages and Disadvantages - Investopedia

   www.investopedia.com › ask › answers

   • Cached

   Apr 29, 2024 · A command economy is one in which a centralized government controls the means of production and determines output levels. Command economies stand in contrast to...

   • Author: Greg Depersio

4. Videos

   • 

     3:42

     youtube.com

     What is a Command Economy?

     Jun 12, 2018

     258.9K Views

   • 

     5:50

     study.com

     Command Economy | Definition, Characteristics & Examples

     Dec 29, 2015

     194K Views

   • 

     2:36

     youtube.com

     Command Economy

     Oct 24, 2014

     71.8K Views

   View all

5. bankingschool.co.in › indian-financial-systemFour types of economic systems explained – Banking School

   bankingschool.co.in › indian-financial-system

   • Cached

   May 12, 2024 · Command Economy: The command economy is a system where the government plays the principal role in planning and regulating the country’s goods and services and the government has total control over the economy it reigns over. The government makes all decisions regarding the economy.

6. www.smartcapitalmind.com › what-is-a-commandWhat is a Command Economy? (with pictures) - Smart Capital Mind

   www.smartcapitalmind.com › what-is-a-command

   • Cached

   May 16, 2024 · The command economy is an economic system that is controlled by a centralized federal government. In most examples of this type of economy, the focus of the control is on the industrial goods that are manufactured with the country.

7. quizlet.com › 410327797 › chapter-22-flash-cardsChapter 22 Flashcards | Quizlet

   quizlet.com › 410327797 › chapter-22-flash-cards

   • Cached

   3 days ago · Command economies. In Adam Smith's competitive market economy, the question of what goods to produce is determined by. the "invisible hand" of the price system. An economic system that answers the What, How, and For Whom questions using prices determined by the interaction of the forces of supply and demand is a: Market economy.

8. www.investopedia.com › terms › eEconomy: What It Is, Types of Economies, Economic Indicators

   www.investopedia.com › terms › e

   • Cached

   May 16, 2024 · Command-based economies are regulated by a government body that determines the goods that are produced, their quantities, and their prices. In the modern world,...

   • Author: Will Kenton

   • Video Duration: 2 min

9. www.thebalancemoney.com › traditional-economyWhat Is a Traditional Economy? - The Balance

   www.thebalancemoney.com › traditional-economy

   • Cached

   May 10, 2024 · For this reason, traditional economies limit population growth. When the harvest or hunting is poor, people may starve. Vulnerable to market or command economies that use up their natural resources: They are also vulnerable to market or command economies. Those societies often consume the natural resources traditional economies depend on, or ...

10. en.wikipedia.org › wiki › CapitalismCapitalism - Wikipedia

    en.wikipedia.org › wiki › Capitalism

    • Cached

    2 days ago · A mixed economy is a largely market-based capitalist economy consisting of both private and public ownership of the means of production and economic interventionism through macroeconomic policies intended to correct market failures, reduce unemployment and keep inflation low. The degree of intervention in markets varies among different countries.