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.
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...
What Is the Goal of a Command Economy? A command economy employs centralized planning, with government ownership of all means of production. Government control of distribution and pricing exists with the objective of eradicating unemployment, poverty, and social inequality. What Is Prohibited in a C...
Discover the command economy, its definition and how it works. Explore a list of command economy examples, their defining characteristics and facts...
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...
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. ...
Also known as: centralized economy, centrally planned economy, planned economyWritten and fact-checked byThe Editors of Encyclopaedia Britannica Article History command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority ...
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
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. ...
Command economy definition, pros and cons. Karl Marx's definition and examples of countries that still use a command economy model.