Command Economy

By: Ivan Santoyo-Saucedo

Command

~when the government controls all major aspects of the economy and economic production. Which means that the government is the one that decides what to produce, how to produce goods and how to distribute goods and services within the economy

Facts


  • government agencies may also set prices or give consumers rations directly
  • people in power, such as politicians, give orders to buyers, sellers, and investors
  • used by Cuba and North Korea
  • low unemployment rates due to the regulation of jobs by the government
  • everyone has access to health care services and necessary services needed to live, and usually the fee is either low or free
  • state has absolute power over all resources
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