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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 countries has a command economy cuba France US or Canada?

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Asked by Wiki User

Of the four countries listed (France, USA, Cuba, and Canada), only Cuba has a command economy. The rest have government-moderated capitalist economies.

What is centrally planned economy with all economic with all economic and political power resting in the hands of the central government?

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Asked by INoFearx4

A centrally planned economy with all economic and political power resting in the hands of the central government is known as communism. Karl Marx developed communism into a scientific theory.

In a planned economy of the following does the job of market forces in order to determine the outcomes?

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Asked by Wiki User

In a planned economy, the government does the job of market forces in order to determine the outcomes.

How market traditional and command economy adapt to change?

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Asked by Wiki User

A traditional and command economy adapt slowly, a market economy adapts fast.

In a command economy economic decisions are mostly influenced by?

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Asked by Wiki User

Its the government because its the one that control all means of production.

How is a laissez faire economy different than a command economy?

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Asked by Wiki User

Laissez-Faire economy is Market economy where you can easily start your business. All control under your hand, but there can be some restrictions by government. Wages,production ,price of product are defined by producer. Equilibrium point easily find it place in Market economy, because seller want to sell all of his outputs in a good price that demanders could buy this product.

In Command economy all control under government's hand,government controls all means of Production. And put thy price on the product. Generally the products are not as qualitative as the product of Market economic. Because Market economics producer wants to make it qualitative to be selled .

What are other names for a planned economy?

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Asked by Wiki User

In Continental Europe, the term "social market economy" or "Rhine capitalism" is generally used to refer to the mixed-market economic models used by those countries.

In the United States, United Kingdom, Canada and Australia, the type of capitalism is sometimes called the "Anglo-Saxon model", which is a type of mixed economy skewed more toward free-markets than the Continental European model of capitalist mixed economy.

The modern economic model in the People's Republic of China is considered to be a mixed-market economy. Officially, the name for this system is a "socialist market economy", but economists usually label it "state capitalism" instead.

Who decides where people will work in a centrally planned economy?

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Asked by Wiki User

I don't quite understand your question, isn't the definition of a centrally-planned economy one in which the government plans the economy? I imagine that in most centrally planned economic schemes the government would either determine the prices or set a cap for essential goods.

What countries have a command economic system?

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Asked by Wiki User

Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.

Why was nigeria formerly under a command economic system?

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Asked by Wiki User

Because it was under strict military rule.

In command economy who tells producers what and how much to produce?

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Asked by Wiki User

Government planners

In a command economy, government committees or economic planners, political officials and production expers designate production levels and the factories which will produce them. This works on apex too soooooooo your welcoome

When did the Command Economy begin?

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Asked by Wiki User

In World War 1 Germany and Britain (and France?) adopted various features of a command economy. At the time it was sometimes nicknamed 'war socialsim.'

Is cuba a command economy?

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Asked by Wiki User

Cuba has a state-controlled economy, which means that all Cuba's production is controlled and managed by the government , and most of the labor force is employed by the state.

Temporaily, meaning that since cuba has a communist type of government the controlled economy must have have people without a felines record may not vote or perticipate in social meetings.

What advantages does Cuba have being a command economy?

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Asked by Wiki User

Because in a command economy the government is in charge of most if not all of the factors of production.

How is the government involved in a planned economy?

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Asked by Wiki User

In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.