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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]
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 ...
A centrally planned economy combines public ownership of the means of production with centralized state planning. This model is usually associated with the Soviet-type command economy. In a centrally planned economy, decisions regarding the quantity of goods and services to be produced are planned in advance by a planning agency.
National economies can be run from the top down, so to speak, in what is sometimes called a command economy or they can be run from the bottom up in what is sometimes called a free market. In the ...
This differs from a centralized planned economy, or a command economy, in that micro-economic decision making, such as quantity to be produced and output requirements, is left to managers and workers in state enterprises or cooperative enterprises rather than being mandated by a comprehensive economic plan from a centralized planning board.
The unique features of Soviet-style economy were an ideologically driven attempt to build a total economic plan for the whole society, as well as unquestioned paradigm of superiority of the state socialist system. Attempts to modify or optimize the former based on pragmatic analysis of economic outcomes were hindered by the latter.
Mixed economy (a hybrid that blends some aspects of both market and planned economies) 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)
The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing.An administrative-command system managed a distinctive form of central planning.