command economy-
An economic system in which the government controls a country’s economy
. market economy- an economy that relies chiefly on market forces to allocate goods and resources and to determine prices.
Which is the best definition of a command economy?
:
an economic system in which activity is controlled by a central authority and the means of production are publicly owned
.
What is in a command economy?
A command economy is
where a central government makes all economic decisions
. Either the government or a collective owns the land and the means of production. It doesn’t rely on the laws of supply and demand that operate in a market economy. A command economy also ignores the customs that guide a traditional economy.
Which is an example of a command economy quizlet?
A command economy is one where the government makes most economic decisions, such as what will be produced, how it will be produced, and for whom it is produced.
North Korea and Cuba
are examples.
What is produced in a command economy quizlet?
Terms in this set (27)
Command Economy. government owns or directs the means of production
(land, labor, machinery, factories)
and controls the distribution of goods. Market Economy.
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 is an example of a command economy?
Alternatively, a command economy is organized by a centralized government that owns most, if not all, businesses and whose officials direct all the factors of production.
China, North Korea, and the former Soviet Union
are all examples of command economies.
What are 3 characteristics of a command economy?
A command economy has a small number of typical elements:
A central economic plan, government ownership of the means of production, and (supposed) social equality
are essential features of a command economy.
What do traditional and command economies have in common?
Societies with traditional economies depend on
agriculture, fishing, hunting, gathering, or some combination of them
. They use barter instead of money. … A command economy is where a central government makes all economic decisions. Either the government or a collective owns the land and the means of production.
What are 2 characteristics of a command economy quizlet?
- Economic Efficiency. -Government owns all means of production. …
- Economic Equity. Wages are set by the government and wages are the same for each job. …
- Economic Freedom. Decisions made by the government. …
- Economic Growth. …
- Economic Security. …
- Economic Stability. …
- Full Employment.
What is a command system quizlet?
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.
What is a command quizlet?
Terms in this set (12)
Command Definition.
Authority that a commander has over its subordinates
. – includes: Coordination of missions and welfare of those subordinates. Commanders intent. Precise and clear purpose behind tasks assigned to subordinates.
What is an advantage of a command economy?
Command economy advantages include
low levels of inequality and unemployment
, and the common objective of replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.
Is the best example of a command economy?
The most common and relevant example of a command economy is
the Republic of China
were after world war 2 the ruler of the country of China who was Mao Tse Tueng created an economy of communism.
What is another term for command economy quizlet?
Which is another term for a command economy?
Centrally-planned economy
.
What is the goal of a command economy system quizlet?
Central powers distribute resources, government owns many businesses which are not allowed to fail
.
