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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.
359 Questions
it is that type of economy where by resource allocation is done mostly by the state and ther is limited individual intervention
What does the government control in a centrally planned economy?
Everything linked to money and production. Firms, taxes are some examples.
Is mixed economy more reliable than planned economy?
yes mixed economy is more reliable in a mixed economy we get both the public as well as private players.on the other hand planned economy doesn't allow such freedom.mixed economy private companies are under restrictions of the government and there working is on check.
Is Brazil a market or a command economy?
No. Brazil is placed in 150nd in Economic Freedom Index, it's one most closed, regulated and taxes economies of the world. Although Brazil is capitalist, it's a hardcore corporativist and keynesian capitalist model
What did the Oglala believe the Wasichus planned to do?
The Oglala thought the Wasichus were going to kill all of them then take all of their land.
India is not technically a command economy. The economy of India focuses more on an indirect and direct state intervention type of economy.
What pairs of countries have come the closest to having purely command economic systems?
China and North Korea come the closest to having purely command economic systems.
How are economic decisions made in a command economy?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
Is Cambodia a market or a command economy?
Because Cambodia has all the factors of communism and it is highly regulated I believe it has a commanded economy but I have researched this information and have not been able to find a concrete answer.
What causes a command economy to stagnate or decline?
the leader making a mistake which then affects the whole country in a negative way.
how the hell am i suppose to know i have a test that has this question. give me the answer
List the three countries that have command economy?
There are six countries with a command economy:
Belarus
Cuba
Libya
Myanmar
North Korea
Saudi Arabia
it means you should not pay people to work for you so you let them work for free
The market economy has limited government intervention and relies on the profit
motive and consumer sovereignty. It has proved more successful in raising living
standards, economic growth and economic efficiency. Consumers benefit from more
choice and lower prices. Planned economies were state-run with economic plans and
large scale government intervention. The result was low living standards although
employment was usually available and a basic quality of life resulted. The move to
market economies brought beneficiaries and casualties. Russia illustrates the increase
in millionaires while unemployment and poverty grew. Some East European
economies are making fast progress while some former USSR republics are struggling.
In a command economy who decides how to produce goods and services?
If by "command economy" you mean a dictatorial economy like North Korea, the government decides what is produced and has a lot of say in how things are done. The Cuban government is also a dictatorial government but more pragmatic in when to leave things alone. The US military maintains a huge installation at Guantanamo Bay in Cuba and quite a number of Cubans work on the base and draw good paychecks. The Cuban regime understands that the Americans have no intention of leaving and Cuba is incapable of evicting them. But the Americans leave the Cuban regime alone (except for the usual CIA spying and meddling)
Which of the four econoic systems has the most involvement with the government?
Of the 4 economic systems the one that is most directly involved with the government is command economy. The definition of command economy is an economy where supply and price are regulated by the government rather than market forces. Government planners decide which goods and services are produced and how they are distributed.
