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In the former, a centralized authority, typically the government, decides what should be produced, what services should be offered and what the prices should be; in the latter, pricing and ...
In Marxian economics, the "commanding heights of the economy" are certain strategically important economic sectors. Some examples of industries considered to be part of the commanding heights include public utilities , natural resources , and sectors relating to both foreign trade and domestic trade .
Planned economy ("hands on" systems, such as state socialism, also known as "command economy" when referring to the Soviet model) Other types: Traditional economy (a generic term for older economic systems, opposed to modern economic systems) Non-monetary economy (without the use of money, opposed to monetary economy)
Economic analysts have argued that the economy of the Soviet Union actually represented an administrative or command economy as opposed to a planned economy because planning did not play an operational role in the allocation of resources among productive units in the economy since in actuality the main allocation mechanism was a system of ...
Continue reading ->The post What Is a Command Economy? appeared first on SmartAsset Blog. National economies can be run from the top down, so to speak, in what is sometimes called a command ...
Jul. 20—(NewsUSA) — "Richard Vague is a rare combination of scholar, practitioner, and communicator. In The Paradox of Debt, he provides an essential guide to the modern economy that can be ...
A state-directed economy is a system where either the state or worker cooperatives own the means of production, but economic activity is directed to some degree by a government agency or planning ministry through mechanisms such as indicative planning or dirigisme. This differs from a centralized planned economy, or a command economy, in that ...
Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." [39] whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. [40]