What it is
Economy Of Communism
The communist economic system is one where class distinctions are eliminated and the community as a whole owns the means to production. The Government controls the Economy, As well as makes all decisions.
Communism vs Socialism
Socialism - a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Communism - The Government owns and makes all decisions concerning the economy, holds all political power and determines the the distribution of good and services