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.
There, the command economy of a sprawling Communist state heaved itself into military competitiveness with the United States. From New York Times Much of that dates to the Soviet era, transporting gas from vast energy fields in Russia westward, when Moscow sought badly needed funds for its falter...
Define command economy. command economy synonyms, command economy pronunciation, command economy translation, English dictionary definition of command economy. n. An economy that is planned and controlled by a central administration, as in the former Sov
ACommand Economyis an economy that the government controls. The government controls the supply of goods and services. The state, rather than market forces, controls their prices. A command economy contrasts with a free market economy. In a free market economy, market forces determine prices.‘Mar...
Discover the command economy, its definition and how it works. Explore a list of command economy examples, their defining characteristics and facts...
A command economy (also known as a “planned economy”) occurs when decisions about the production and allocation of all goods and services are made by one central government authority. Characteristics of Command Economies Command economies are characterized by centralized control, forecasting, and pric...
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. ...
What is an economic system in which a central authority is in command of the economy (a centrally planned economy)? What is an "economic system" in a simple definition? What is the modern definition of economics? In economic terms, define what money is. ...
The benefits of a command economy include: One of the arguments in favor of a command economy is that the allocation of resources (prices) and control of the means of production are tailored towards social welfarism. That is, government allocate prices strictly to cater for social needs. ...
Command economy definition, pros and cons. Karl Marx's definition and examples of countries that still use a command economy model.