What provide a command economic?

Answer 1

A command economy is characterized by central planning where the government makes all decisions regarding the production, distribution, and pricing of goods and services. This system aims to allocate resources efficiently according to a national plan, often prioritizing social welfare over profit. While it can lead to rapid industrialization and equitable resource distribution, it may also result in inefficiencies, lack of innovation, and limited consumer choice due to the absence of market signals. Examples of command economies include North Korea and the former Soviet Union.