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Planned Economy

A Planned Economy or Command Economy is an economy primarily driven by the local government which chooses how much production an industry should perform. Given the myopic views of most governments, planned economies often resulted in production shortfalls and excesses, leading to general frustration of populaces where planned economies existed, such as most Communist countries prior to the 1980s.

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What is difference between mixed economy and command economy?

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Who gives a f**k. Nobody cares about the economy. If you do you are a ho**

Is England an planned economy?

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No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.

How are command economy decisions made?

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Typically, one person or a small group of people in the government would make the decisions.

Is Iran a mixed economy a market economy or a command economy?

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There is this guy who is spaming me because I'm putting up bad markets. Anyway it's a command economy because I eat cheese. He he he see where he's coming from eh?

What countries have recently switched from a command economy?

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17. Conduct research to find examples of countries that have changed from a command economy to a market economy. What kind of changes did the country need to make?

Which is true of the government in a centrally planned economy?

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The government places much emphasis on the production of consumer products.

What is different from a command economy and a mixed economy?

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A Mixed economy is an economy that is both a planned and free enterprise economy.This means is has both STATE CONTROLLED economies and also PRIVATE OWNERSHIP economies. These 2 are commonly found the Caribbean, such as Barbados or Cuba for example. Free Enterprise is practically self explanatory. It if the economic system for people who own their own businesses such as shops.

The Controlled economy is well obviously controlled by the STATE but this usually affects larger companies and businesses.

Does North Korea have an Command Economy?

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North Korea has a command economy.
that they developing

see link below

Did china change from a command economy to mixed?

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I think it is now, allowing companies to keep profits to an extent that they didn't allow before and so forth.

Which nation's economy could best be described as a command economy where the government determines guidelines for economic development and sets goals for economic production?

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A planned economy is also known as a command economy, and it is designed by a central governmental authority. It is a type of socialist economy, and it currently exists in North Korea, Laos, and Cuba.

What are the primary characteristics of a command economy?

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ownership- all of the countries factors of production are own by the government

objectives- consumers, workers and the government are all assumed to be working for the common good.

competion - very little or not at all.

the planning system - this is an extra characteristic of the comand economy.as the government runs the system,they have the job of planning how all the resources should be used.the government provides the solution for the central economic problem

Is planned economy the same as mixed economy?

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china is centrally planned economy its means that all the things in china are occupies by china government. they will decide what to produce, where to produce, how to produce it also decides that in which quantity they has to produce the thing.

What is another name for command economy?

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A command economy can be referred to as a:

  • planned economy,
  • centrally planned economy,
  • command and control economy

A command economy was used in communist countries. Examples are the former Soviet Union, North Korea, the People's Republic of China, and Cuba.

IS INDIA a free economy planned economy or mixed economy?

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India has a mixed economy in that there is private property and companies that produce products for the benefit of profit.

There are many business regulations in India, this combined with the above places India as a mixed economy country.

What does market economy and command economy have in common?

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Its aim to produce all goods and services that are demanded by the citizen (and often beneficial to them) using the least amount of resources (efficient.)

Which country has most extreme example of a centrally planned economy?

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the most extreme example of a centrally planned economy are china,hongkong,cua and north korea

Why do most economies in the world today operate somewhere between a market economy and a command economy?

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Most economies in the world today operate between a market economy and a command economy because,clinging to command economy in the present world economic scenario will make you live like a frog in the well. The inherent benefits of a market economy are you allow the domestic industries to stand on their own foot, licence raj is abolished. The benefits of price reduction as per world market rates can be offered for the welfare of the country men. Those who are not willing to totally switch over to market economy, operate somewhere between the two.

Is Switzerland a command economy?

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no its economy revolves around alligators and farms .