In a command economy, the government controls the economy through various commands, laws, and national goals which are used to coordinate complex social and economic systems. In other words, a social or political hierarchy determines what is produced, ho
In a command economy, the central government dictates the level of production of goods and controls their distribution and prices. Proponents of command economies argue that government control rather than private enterprise can ensure the fair distribution of goods and services. ...
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. A complex social economy ...
The North Vietnam economy, run by a communist dictatorship, was a command economy in its constitution. South Vietnam was more liberal and capitalist in its constitution until the North won the war in 1975. North Vietnam then tried to bring the command economy system to the South. Eventually,...
“Command Economy.” Investopedia (March 2018) Bon, Kristoffer G.; Gabnay, Roberto M. editors.“Economics: Its Concepts & Principles.”2007. Rex Book Store. ISBN 9712346927, 9789712346927 Grossman, Gregory (1987): “Command economy.”The New Palgrave: A Dictionary of Economics. Palgrave Macmilla...
Notice that all of them are about tightening the controls. So here is Isaiasnomics explained: command economics work if you actually, truly command all aspects of the market: supply, demand, prices, investment, production, distribution, regulation, taxation. All of these have values and the meas...
A command economy is an economic system controlled by a centralized federal government. Though the concept of a command economy...
Answer to: Contrast how a market system and a command economy try to cope with economic scarcity. By signing up, you'll get thousands of...
Noting the confusion on your face, he continues that they have a traditional economy, meaning that all transactions are based on trade or bartering goods. While you're pretty sure that you could get your raw materials for a very low price from this country, you're pretty sure that your...
Along with the knowledge economy time, the accounting personnel besides must be skilled in accountant the specialized knowledge, but also must know such as the financial management science, the finance, the finance study, examines the economics, statistics, the market management science, the goal ma...