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- DictionaryCom·mand e·con·o·my/kəˈmænd iˈkɑnəmi/
noun
- 1. an economy in which production, investment, prices, and incomes are determined centrally by a government.
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Jun 30, 2024 · 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...
Jul 9, 2024 · 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.
Mar 4, 2019 · 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.
Jun 15, 2022 · A command economy, also known as a planned economy, is an economic system in which the central government makes major economic decisions about the production and distribution of goods.
Aug 7, 2022 · A command economy is a system in which a government plans its economics to attain societal goals. Learn characteristics, pros, cons, and examples.
Mar 30, 2023 · 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.
Learn about about two types of economies: command and market. In a command economy, the government controls everything, like factories and farms. In a market economy, businesses and people decide what to make and buy. Most countries have a mix of both, called a mixed economy. Questions.
Aug 10, 2023 · The meaning of COMMAND ECONOMY is an economic system in which activity is controlled by a central authority and the means of production are publicly owned.
A command or planned economy occurs when the government controls all major aspects of the economy and economic production. In a command economy, it is the government that decides what to produce, how to produce goods and how to distribute goods and services within the economy.
Jun 16, 2024 · 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,...
