LT: Command Economies

What is a key characteristic of a command economy?

• Free market competition

• Individual economic choice

• Government ownership of resources

• Limited government control

Which country is an example of a command economy?

• United States

• Japan

• Cuba

• Germany

What is a pro of command economies?

• Lack of innovation and competition

• Equal distribution of resources

• Individual economic choice

• Efficiency in resource allocation

What is a con of command economies?

• Innovation and competition

• Ability to meet basic needs

• Limited individual rights

• Stability

What does the government control in a command economy?

• Only production of goods

• Only major industries

• Only distribution of goods and services

• All aspects of the economy

What is a characteristic of command economies?

• Decentralized planning

• Government ownership of resources

• Unlimited individual economic choice

• Market-driven resource allocation

What is a pro of command economies?

• Individual economic choice

• Equal distribution of resources

• Efficiency in resource allocation

• Innovation and competition

What is a con of command economies?

• Ability to meet basic needs

• Lack of innovation and competition

• Stability

What is a characteristic of command economies?

• Individual economic choice

• Central planning of economic activities

• Private ownership of resources

• Market-driven resource allocation

What is a pro of command economies?

• Inefficiency in resource allocation

• Lack of innovation and competition

• Stability

• Equal distribution of resources