Examples of command economy
[DOC File]Types of Economic Systems
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Traditional Economy. Command Economy. Market Economy. Mixed Economy 1. 2. 3. What are its characteristics? (complete sentences) What are problems faced in a traditional economy? How is your job determined? Examples in Latin America: What are its characteristics? (complete sentences) What are problems faced in a command economy?
[DOC File]MARKET ECONOMY - CAPITALISM
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Traditional economy. Market economy/ Free enterprise/ capitalism. Command economy. Mixed economy. Know the characteristics of a country. Know examples for all the above terms. Section 4: Resources, Trade and the Environment. Be able to . Terms …
Command Economy: Definition, Characteristics, Pros, Cons
Command Economy An economic system is which a small group of people (usually government) decides what to produce, how to produce it, and who will consume it. The sugar industry in Cuba would be an example.
[DOC File]Comparison of Economic Systems
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The command economy is characterized by public ownership of nearly all property resources and economic decisions are made through central planning. The planning board, appointed by the government determines production goals for each enterprise. The division of output between capital and consumer goods is centrally decided based on the board’s ...
[DOC File]Economic Understandings
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COMMAND ECONOMY - COMMUNISM (CENTRALLY PLANNED ECONOMY, PLANNED ECONOMY) The centrally planned economy is an economic system where the means of production (land. labor. capital) are all owned and controlled by the government or state on behalf of the people.
[DOC File]Study Guide chapter 2
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Command Economy Advantages. Great changes can be brought about in a short period of time. Great achievements, such as the building of the Great Wall of China or the Sphinx in Egypt, can be accomplished. Disadvantages. It can be cruel and arbitrary. One person, small group, or . tyrant, may direct the command economy. Tyrant may decide who will ...
[DOC File]DOT
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Command Economy. In a Command Economy or Planned Economy, the central or state government regulate various factors of production. In fact, the government is the final authority to take decisions regarding production, utilization of the finished industrial products and the allocation of the revenues earned from their distribution.
[DOC File]Example of Market economy some say it is U
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Command economy. An economic system in which the government owns and operates the factors of production. Socialism Communism Cuba China Laos 3) Traditional economy. An economic system based upon customs and traditions. Economy is based upon agriculture and hunting. Non-Industrialized Agrarian societies Chad Haiti Rwanda 4) Mixed economy
[DOC File]Traditional Economy
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• Command Economies (page 35) A central authority, generally a government, makes the major economic decisions in a . command economy. The central authority expects people in the society to go along with its decisions. A command economy can change its focus in a short period, depending on whatever the government calls for at any time.
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