Answer: Any communist society is a key feature of command economy. for example
Cuba, North, korea and former Soviet Union
.
What country has no command economy?
Which countries have a command economy? Most countries in the current age do not have a pure command or free-market economy. They have a combination of both government-run enterprises and private companies (this is called a mixed economy). However,
North Korea
, Cuba, and Belarus are closest to having command economies.
Which of these countries has a command economy?
The blend seen in China is termed “state capitalism.” https://www.economist.com/leaders/2012/01/21/the-rise-of-… The only country in the world today with a pure command economy is
North Korea
.
Why do countries have a command economy?
Proponents of command economies argue that
they allocate resources to maximize social welfare
, unlike in free-market economies, where this goal is secondary to maximizing private profit. Command economies may have better control of employment levels than free-market economies.
Do most nations have a command economy?
Most nations operate
largely as a command or market economy
but all include aspects of the other. The type of economy also influences the political and social landscape of a nation, with command economies being more authoritarian and market economies allowing for more personal freedoms.
Which statement best describes a command economy Brainly?
The
Government determines economic choices and makes most decisions statement
best describes a command economy.
What type of economy is being described a traditional economy?
Also known as a subsistence economy, a traditional economy is defined
by bartering and trading
. A little surplus is produced and if any excess goods are made, they are typically given to a ruling authority or landowner. A pure traditional economy has had no changes in how it operates (there are few of these today).
Is North Korea a command economy?
Through a constitutional amendment in 2019, North Korea abolished the “Taean [alternative] Work System,” the doctrine of economic management of business in the era of
a command-based controlled economy
, and instead adopted “the socialist corporate responsible management system.” The new system gave companies actual …
How is the US a command economy?
In terms of consumer goods and business services, the United States economy operates as a free market. In
terms of defense
(and with regard to certain aspects of retirement benefits and medical care), it operates as a command economy.
What countries have a traditional economy?
An example of a traditional economy is the
Inuit people in the United States’ Alaska, Canada
, and the Denmark territory of Greenland. However, most traditional economies don’t exist in rich, “developed” countries. Instead, they exist inside of poorer, “developing” countries.
How is China a command economy?
Since its establishment in 1949 and until the end of 1978, China maintained a centrally planned, or command, economy.
The state directed and controlled a large share of the country’s economic output
; the state set production goals, controlled prices, and allocated resources throughout most of the economy.
Which is the best definition of a command economy?
An economic system in which the government controls a country’s economy
. … Government planners decide which goods and services are produced and how they are distributed. The former Soviet Union was an example of a command economy. Also called a centrally planned economy.
Why is North Korea a command economy?
North Korea is a command economy
because the government controls every aspect of the nation’s economy, including wages and prices
.
Who has a command economy?
Rank Country 2021 Population | 1 China 1,444,216,107 | 2 Russia 145,912,025 | 3 Iran 85,028,759 | 4 North Korea 25,887,041 |
---|
What are 5 cons to a command economy?
- Command economies tend to limit personal freedoms. …
- There is a lack of innovation with command economies. …
- It reduces the number of options available to consumers. …
- Command economies create underground markets. …
- There is little competition within a command economy.
Are command economies bad?
A command economy is one in which a centralized government controls the means of production. … Command economy disadvantages include
lack of competition and lack of efficiency
. Because the government controls the means of production in a command economy, it determines who works where and for how much pay.