A command economy is one where the government decides what to produce, how to produce it, and who to produce it for. Socialism in its entirety is a command economic system. The term 'centralized' is synonymous with 'command' when it comes to types of economies.
Centrally-planned economies in the USSR and Eastern Bloc. Market socialism in Yugoslavia. State capitalism in modern day China and Vietnam.
The type of government determines how a government becomes centrally planned.
No. Since its creation in 1946, the Italian Republic has never had a centrally planned economy.
In a centrally planned economy, the central government decide which part of the country to allocate cash and which one not to.
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A centrally planned democratic free economy is one whereby the budget making process involves everyone.
What are two reasons why a centrally planned economy tend to be less efficient than a market base economy
the most extreme example of a centrally planned economy are china,hongkong,cua and north korea
a centrally planned economy
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A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.
A centrally planned economy is an economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses.