How does socialist government with command economy manage its economy

The socialist government with command economics manages its economic by controlling factories and other forms of production.

A command economic can be defined as a system in which the government determines the goods to be produced, the number of goods to be produced and the cost at which the goods should be sold.

Further Explanation

In a command economy, incomes and investments are also determined by the government. and one of the major indices of any communist society is a command economy.

The list below is some of the examples of countries with a command economy

The former Soviet UnionNorth KoreaCuba

A command economy is also known as a planned economy. The principle of a planned economy is that the government in in charge of production.

Also, in a command economy, the government exercise power on matters concerning national priorities.

Some of the priorities that are set out by government officials in a command economy include

How to generate economic growthWhen to generate economic growthResources distribution for production

Some of the disadvantages of a command economy include

Government official usually provide for themselves at the detriment of the peopleGoods productions are of low qualityIndividual initiates are rarely rewardedIndividual lack the freedom to choose

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How does a socialist government with a command economy manage its economy How does a socialist government with a command economy manage its economy

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economysocialist governmentcommand economyplanned economyforms of production

It would be choice b (randomly selected)

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