Command
Definition:
A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. China, Cuba, North Korea and the former Soviet Union are examples of countries that have command economies.
Examples of command in history:
North Korea 1960s-current
A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. China, Cuba, North Korea and the former Soviet Union are examples of countries that have command economies.
Examples of command in history:
North Korea 1960s-current
- Is one of the few remaining command economies.
- GDP: 12.3 billion
Pros
Done by Jade
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Cons
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