Posted by Anonymous on Monday, April 18, 2011 at 8:57pm.
Could I know the features of Command Economies/good and bad?
I think I found their relative advantages and disadvantages. Down below. Please check, and do tell me if there are more. Thanks so much.
Command Economy Advantages:
-Equality is focused on
-Government tries to get rid of private property and distribute its good equally. (If this is done in a proper way than no one is in poverty and no one is wealthier than another.
-Social services are also given importance to in this type of economy.
-The government will provide equal health care, education opportunities, and make sure that all people are fed.
-This type of economy is also capable of quick change for major problems.
-The government owns the companies, so if production needs to be shifted into a different area, the government is capable of doing it quick.
-These type of economies are also very stable. They will never have sudden depressions.
-Not that much freedom
-Individual does not have opportunity to decide what they want to do for a career, and they have no control over the goods they receive.
-There is little reason for innovations, hard work, or quality of the work.
-Individuals make same amount of money, no one makes more than the other, the people feel like there is no reason to work hard.
-There is little focus on consumer wants. When it comes to minor day-to-day changes, the government has a hard time dealing with with them.
- Command Economies - Ms. Sue, Monday, April 18, 2011 at 9:07pm
Great! You've covered all of the pros and cons that I know about.
Note that communism is the major command economy. Yet the Soviet Union fell apart, although it's leaning toward a similar command economy system. It's having a hard time making the abrupt switch from a command economy to a free enterprise system. Both Vietnam and China have command economies, but they too have loosened up a lot in recent years and are adapting to mixed economies.
- Command Economies - Anonymous, Monday, April 18, 2011 at 9:14pm
Thanks so much for the additional information:)
What does it mean by features? Is that same as disadvantages, and advantages.
- Command Economies - Ms. Sue, Monday, April 18, 2011 at 9:22pm
Features means to describe them. I think you've done a good job of describing them in your lists of advantages and disadvantages. You could summarize the facts about a command economy and then go on to the advantages and disadvantages.
- Command Economies - Anonymous, Monday, April 18, 2011 at 9:31pm
Thanks so much for your help, and thanks for the site as well:)
- Command Economies - Ms. Sue, Monday, April 18, 2011 at 9:33pm
You're very welcome.
- Command Economies - meek mills, Monday, January 7, 2013 at 7:25pm
Answer this Question
Command Economies - All I kind of know is that, the government controls the ...
Economics - Why would a country choose to have a mixed economy? I know a mixed ...
World Geography - please Write a short essay comparing the ways in which ...
Geography/History - How do command economies and market economies affect a ...
social studies - in what ways do market economies differ from command economies...
geography - Germany and France are located next to eachother. What geographic ...
Economics quick question - How are prices determined in command economies?
please check(Social studies) - can anyone explain the advantages and ...
International Business - Most command economies are in the process of transition...
Finance - Consider the following two, completely separate, economies. Te ...