China and North Korea come the closest to having purely command economic systems.
China and North Korea come the closest to having purely command economic systems.
China and North Korea come the closest to having purely command economic systems.
North Korea, Vietnam, and portions of China are areas that come closest to having a purely command economic system. In a command economy, most economic decisions are made by the government rather than the free market.
command and market
One way to define economic systems is to classify them according to whether they are market systems or command systems.
economic systems
Most countries have similar economic systems, which are a mixture of a free market and government regulation.
The squad
If a countries economy, growth, and employment are strong they have a good indication that their economic systems are working.
The four types of economic systems are mixed, traditional, market and command. The economic systems evolves as different societies places different emphasis on different goals.
Traditional, Command, Market, Mixed.