A planned economy (also known as command economy and centrally planned economy) is an economic system in which the state or government controls the factors of production and makes all decisions about their use and about the distribution of income.计划经济，或计划经济体制，又称指令型经...
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
Russia:In 1917, Vladimir Lenin and the Russian Revolution created the first Communist command economy. The Union of Soviet Socialist Republics (USSR) was also the longest-running command economy, lasting from the 1930s until the late 1980s.8Since the fall of the USSR, the Russian state has t...
Russia:In 1917, Vladimir Lenin and the Russian Revolution created the first Communist command economy. The Union of Soviet Socialist Republics (USSR) was also the longest-running command economy, lasting from the 1930s until the late 1980s.8Since the fall of the USSR, the Russian state has t...
A command economy is an economic system controlled by a centralized federal government. Though the concept of a command economy...
workers are hired on the basis of supply and demand - the more a product or service is in demand by consumers, the more workers are needed. In contrast, in a command economy, labor is assigned not by consumer demand, but by government intervention, to ensure citizens have a job whether ...
A command economy is one in which the life-cycle and activity of firms, their adjustment to disturbance, and coordination between them, are typically and in the main governed by administrative means — commands, directives, and regulations — rather than by a market mechanism. Perhaps the most ...
Acommand economyis organized by a centralized government that owns most if not all, businesses and where government officials direct the factors of production.Milton Friedman, an American economist, noted that command economies must inherently limit individual freedom to operate.5Macroeconomic and ...
A market economy is an economic system in which individuals, rather than the state, own most of the resources. Resources in a market economy include land, labor, and capital. In a command economy, a central government or single ruler decides how many goods should be produced and services pro...
A command economy is controlled by a government while a mixed economy is driven in large part by the private sector, with some government control and intervention.