What country fits the definition of a command economy?

Hardly any countries are considered command economies anymore. I have always simplified it down to the following: In command economies, supply is determined by the central planners. In a market economy, supply is determined by consumer demand. read more

Hardly any countries are considered command economies anymore. I have always simplified it down to the following: In command economies, supply is determined by the central planners. In a market economy, supply is determined by consumer demand. read more

A command economy is an economy in which the government has the power over the financial management of the country. Imagine for a moment that your friend Sam told his sister Sara yesterday that he thinks a command economy is an economic system used in countries like Cuba and North Korea. read more