Command Economy
Definition
A command economy is an economic system in which the government has complete control over the production and distribution of goods and services.
Related terms
Market Economy: An economic system in which individuals and businesses make most of the decisions regarding production and consumption.
Planned Economy: An economic system in which a central authority makes all decisions about production, consumption, and resource allocation.
Central Planning: The process by which a central authority determines how resources should be allocated in an economy.
"Command Economy" appears in:
Subjects (4)
AP Comparative Government
AP Macroeconomics
AP World History: Modern
Intro to Political Science
Study guides (1)
AP Microeconomics - 1.2 Resource Allocation and Economic Systems
Additional resources (1)
AP Microeconomics - Unit 1 Overview: Basic Economic Concepts
Practice Questions (1)
What is one of the main advantages of a command economy?
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About Us
About Fiveable
Blog
Careers
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Cram Events
Merch Shop
Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.