A pure command economy is characterized by centralized government control over all economic activities, including production. In this system, the government makes all decisions regarding what goods and services are produced, how they are produced, and who receives them. This often leads to the allocation of resources based on political priorities rather than market demand, which can result in inefficiencies and a lack of innovation. Overall, pure command economies aim to achieve specific social or economic goals rather than responding to consumer preferences.
It’s called capitalism: class ownership, wages system, production for sale.
communism
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
command economy
the government dose
Its when you are in command to do something the gov. Tells you to.
It’s called capitalism: class ownership, wages system, production for sale.
communism
Command economy
There is no motive to expand the economy in a command economy, whereas there are investors, changing demands, and prerogatives to improve production in a capitalist economy because of the competition that is lacking in a command economy.
command economy
the government dose
The production-possibility frontier would not look different in a command economy compared to a market economy because the PPF equate the rates of production between two goods which both use equal factors of production.
The production-possibility frontier would not look different in a command economy compared to a market economy because the PPF equate the rates of production between two goods which both use equal factors of production.
Its the government because its the one that control all means of production.
yes, South Africa is a Pure market economy
Command Economy is all major decisions related to the e production, commodity and service prices are all made by the goverment.