What Economy Is Controlled By The Government? What economy is controlled by the government? A command economy is an economic system where the government has control over the production and pricing of goods and services. What are the 3 types of economy? There are three main types of economies: free market, command, and mixed. The
What Effect Does The Lack Of Competition In Command Economies Have? What effect does the lack of competition in command economies have? Critics argue that the inherent lack of competition in command economies hinders innovation and keeps prices from resting at an optimal level for consumers. Why is there no competition in a command economy?
What Economic Goals Are Achieved By The Command Economy? What economic goals are achieved by the command economy? Its goal is to supply enough food, housing, and other basics to meet the needs of everyone in the country. It also sets national priorities. These include mobilizing for war or generating robust economic growth. The government