The economic system with the highest level of government control is a command economy, also known as a centrally planned economy. In this system, the government has complete control over the allocation of resources, production decisions, and the distribution of goods and services. The government determines what goods and services are produced, how they are produced, and who receives them. Examples of command economies include North Korea and Cuba.
The economic system with the highest level of government control is a command economy, also known as a centrally planned economy. In this type of system, the government plays a dominant role in economic planning and decision-making. The government owns and operates most of the means of production, determines prices, allocates resources, and controls the distribution of goods and services. Examples of countries that have or have had command economies include the former Soviet Union, China under Mao Zedong, and North Korea.
