What are the primary characteristics of a command economy?

Answer 1

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

Answer 2

- resurces are controlled by government decisions - government controlls all or most aspects of the economy - constant exploitation of resources - surplus production - unemployment rates remain at a reasonable level - satisfies public wants and needs, not individual - leads to poverty, unemployment, homelessness and famine

Answer 3

There are three characteristics behind a pure command market economy. The first is strict economic planning, such as five-year plans. Production is strictly regulated by quantities and types of units through GOSPLANs and similar policy directives. Prices are also subject to strict control and mandate. This also applies to the consumers whose options may be under strict rationing. Lastly, another aspect to a pure command economy is state ownership of all property, resources and means to production. In fact all industries and economic producers and consumers are nationalized.

Answer 4

This could include State-owned enterprises or private-owned enterprises with their actions being controlled by the government. e.g. Amount to produce. or Both.

Generally, owners does not have control over resources and has no ownership over assets. Decisions are followed and made by the higher level authority of governmental organizations which claimed to make decisions to benefit the economy as whole rather than individual interest.

Answer 5

The primary characteristic of a command economy is that supply and price are regulated by the government instead of the market. In this way, the government decides which goods are produced and how they should be distributed.

Answer 6

collectivism, communism, socialism, planned, centrally planned, public enterprises, wealth equality, government intervene, security, economic stability, cooperation, and society.