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A controlled economic system, often referred to as a command economy, is one where the government or central authority makes all decisions regarding the production, distribution, and pricing of goods and services. In this system, resources are allocated according to a central plan, rather than through market forces. This can aim to achieve specific social or economic goals, such as reducing inequality or promoting industrialization, but may lead to inefficiencies and a lack of innovation due to limited competition and consumer choice. Examples include historical instances of Soviet-style economies.
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What social and economic system in which classes are abolished and property is commonly controlled?
The Communism Economic System
What is an economic system in which the economic decisions are controlled from outside by a central agency?
Command
Which of these would have a controlled economic system?
a socialist country
Centralized economic system?
In centralized economic system everything in the economy is controlled by the government. In this type of economies market does not have any role to play. Production and consumption of goods are controlled by the government.
Which publicly controlled economy is nearest to a mixed economic system?
Communism
What social and economic system in which classes are abolished and property is commonly controlled?
The Communism Economic System
What is an economic system in which the economic decisions are controlled from outside by a central agency?
Command
Which of these would have a controlled economic system?
a socialist country
Centralized economic system?
In centralized economic system everything in the economy is controlled by the government. In this type of economies market does not have any role to play. Production and consumption of goods are controlled by the government.
Which publicly controlled economy is the nearest a mixed economic system?
The publicly controlled economy which is the nearest to a mixed economic system is a socialist economy. The public will influence such an economy to a great extent.
What publicly controlled economy is nearest to a mixed economic system?
socialism
Which publicly controlled economy is nearest to a mixed economic system?
Communism
Is traditional economic system controlled by government?
NO. In a traditional economic system, the government does not involve itself with transactions, primarily since the barter system makes it difficult for the government to monitor transactions.
Which publicly controlled economy is nearest a mixed economic system?
Socialism is the closest thing.
An economic system where all businesses is controlled by people who share equally in the profits is called?
Capitalism
What is a socio economic system in which property and the distribution of wealth are controlled by the community for the purpose of achieving social and economic equality?
Certain brands of socialism/communism.
An economic system in which the people own land factories?
Not a totally clear question. A system where the land, factories, etc belong to the whole community is Socialism.
