What Is Command Economy?

1.	What Is Command Economy?
Answer» The command economy is characterized by public ownership of the means of production, collective determination of economic decisions, and the allocation of resources by commands ISSUED by the planning elite. The PRIMARY feature of the command economy is the centralization of decision-making. There is no HORIZONTAL communication between PRODUCING and consuming units. All communication is vertical, i.e., between the individual economic UNIT and the planning agency. The command economy is characterized by public ownership of the means of production, collective determination of economic decisions, and the allocation of resources by commands issued by the planning elite. The primary feature of the command economy is the centralization of decision-making. There is no horizontal communication between producing and consuming units. All communication is vertical, i.e., between the individual economic unit and the planning agency.

Answer»

The command economy is characterized by public ownership of the means of production, collective determination of economic decisions, and the allocation of resources by commands ISSUED by the planning elite. The PRIMARY feature of the command economy is the centralization of decision-making. There is no HORIZONTAL communication between PRODUCING and consuming units. All communication is vertical, i.e., between the individual economic UNIT and the planning agency.

The command economy is characterized by public ownership of the means of production, collective determination of economic decisions, and the allocation of resources by commands issued by the planning elite. The primary feature of the command economy is the centralization of decision-making. There is no horizontal communication between producing and consuming units. All communication is vertical, i.e., between the individual economic unit and the planning agency.

What Is Command Economy?

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