What is a command economy?

A command economy is planned by a government to attain its societal goals. Here are 5 characteristics, pros, cons, and examples of countries. read more

A command economy is a system where the government determines production, investment, prices and incomes. A command economy is a system where the government determines production, investment, prices and incomes. read more

A command economy is where a central government makes all economic decisions. The government or a collective owns the land and the means of production. It doesn't rely on the laws of supply and demand that operate in a market economy. A command economy also ignores the customs that guide a traditional economy. read more