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Command economy | Definition, Characteristics, Examples,
https://www.britannica.com/money/command-economy
WebMar 20, 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. In such a system, determining the proportion of total.
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Command Economy: Definition, How It Works, and Characteristics
https://www.investopedia.com/terms/c/command-economy.asp
WebJul 31, 2023 · The command economy is a component of a communist political system, while a free market system exists in capitalist societies. Key Takeaways. In a command economy, the...
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Command Economy Definition, Characteristics, Pros and Cons
https://www.thoughtco.com/command-economy-definition-4586459
WebMar 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.
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What Is a Command Economy? - The Balance
https://www.thebalancemoney.com/command-economy-characteristics-pros-cons-and-examples-3305585
WebAug 7, 2022 · A command economy, also known as a planned economy, is one in which the central government plans, organizes, and controls all economic activities to maximize social welfare. Command economies, as opposed to free-market economies, do not allow market forces like supply and demand to determine production or prices.
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Command economy Definition & Meaning - Merriam-Webster
https://www.merriam-webster.com/dictionary/command%20economy
WebAug 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.
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Command economy - Economics Help
https://www.economicshelp.org/blog/glossary/command-economy/
WebIn 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. Command economies were often associated with the political system of Communism. It was Karl Marx, in the Communist manifesto who argued for ‘common ownership of the means of production.’.
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What Is a Command Economy? How Command Economies Work
https://www.masterclass.com/articles/command-economy
WebLast updated: Jun 15, 2022 • 3 min read. 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.
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Command Economy: Advantages and Disadvantages - Investopedia
https://www.investopedia.com/ask/answers/032515/what-are-advantages-and-disadvantages-command-economy.asp
WebNov 22, 2022 · 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,...
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Command and market economies - Khan Academy
https://www.khanacademy.org/economics-finance-domain/macroeconomics/macro-basic-economics-concepts/macro-scarcity/v/command-and-market-economies
WebIn 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. Tips & Thanks. Want to join the conversation? Log in. Sort by: Top Voted. ciszek. 4 years ago.
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Command Economy | SpringerLink
https://link.springer.com/referenceworkentry/10.1057/978-1-349-95189-5_170
WebJan 1, 2018 · A command economy is one in which the coordination of economic activity, essential to the viability and functioning of a complex social economy, is undertaken through administrative means – commands, directives, targets and regulations – rather than by a market mechanism.
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