Command Economy

By Joshua, Jonathan, Andrea, and Johana

What are the characteristics of a Command Economy?

Some of the characteristics of a Command Economy include:

  • the central governing authority makes all of the major economic decisions
  • severely limit private property rights
  • major economic decisions are made for the people, not by them

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What are the advantages and disadvantages of a Command Economy?

  1. allows for change to happen drastically
  2. receives expensive goods and services that citizens can't afford
  3. Able to focus on a main import
  1. loss of individual freedom to choose
  2. lack of flexibility to deal with major problems
  3. tends to discourage new ideas and new ways of doing things
Command Economy (Economics report)