When the price and quantity of goods produced are controlled by the government, as in Cuba, it is referred to as a command economy or centrally planned economy. In this system, the government makes decisions about production and pricing rather than relying on market forces. This approach aims to ensure equitable distribution of resources but can lead to inefficiencies and shortages.
command economy
command economy
An economy controlled by the government is called a centrally planned economy. It can also be referred to as a command economy.
Floor pricing
A quantity supplied is more than quantity demanded its called A Surplus.
command economy
command economy
command economy
command
A government controlled by a small privileged and powerful group is called an oligarchy.When that group consists of aristocrats, it is called an aristocracy.
theocracy-a government controlled by religious leaders
An economy controlled by the government is called a centrally planned economy. It can also be referred to as a command economy.
When the government controls everything, It is called Command/Communism
Totalitarian
Socialism
A government controlled by a Tsar (Czar) is called a Tsarist Autocracy. Essentially a form of absolute monarchy.
Floor pricing