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Edwin Solis Period 1 Command Economy (Command Economy (In a command…
Edwin Solis Period 1 Command Economy
Facts
In a command economy ever body gets paid the same
an economy in which production, investment, prices, and incomes are determined centrally by a government.
Government have control over all the business
The government owns all property and goods in a command economy
Cuba,North Korea, and the Soviet union are example of command economy.
Ever since the 1980's, the majority of countries operating underneath this type of economy began to switch to a mixed economy
Command Economy
In a command economy they tell them the what,for, and for whom.
A command economy is where a central government makes all economic decisions
The government has control over all businesses.
It doesn't rely on the laws of supply and demand that operate in a market economy
A command economy is an economy in which the government has the power over the financial management of the country
The Government control all the business.
an economy in which production, investment, prices, and incomes are determined centrally by a government.
An economy where supply and price are regulated by the government rather than market forces.
bibliography
https://www.thebalance.com/command-economy-characteristics-pros-cons-and-examples-3305585
http://study.com/academy/lesson/command-economy-definition-characteristics-advantages-examples.html
http://www.investorwords.com/951/command_economy.html
http://navajocodetalkers.org/8-impressive-advantages-and-disadvantages-of-command-economy/
http://www.investorwords.com/951/command_economy.html
https://www.britannica.com/topic/command-economy
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