Command Economy

By: Erika Iida, Rafael Diaz

INTRODUCTION

The benefits are ...


- Overcome market failure

- Stable salaries

- Basic needs provided ( free health care )

- Promotes social goals

- Maximises social welfare

The Facts

1. All economic decisions are made by the government

2. The government is in charge

3. The government pays everyone the same amount of money

4.The government decides what to produce, how to produce it, and who to produce it for

Criticisms

"Government has too much control" - Its reasonable because most times the government knows best but there are times when the government can't always succeed in control.


"Does not promote individuality" - Yes, but it will be easier if you have orders than not having anyone to rely on and mess things up

"Why make tough decisions on your own, why not have the government make them for you"