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Command Economy

Published on Nov 18, 2015

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PRESENTATION OUTLINE

1.

COMMAND ECONOMY

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2.

ANDVANTAGES

  • Prevent abuse of monopoly power
  • Prevent mass unemployment, often a feature of capitalist
  • Stability
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3.

DISADVANTAGES

  • Unable to respond to consumer
  • Can create shortages
  • Lack innovation
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4.

China is a command economy because the finances and money decisions for Chinese society are made by the national government.

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5.

Command economy

An economy in which production, investment, prices, and incomes are determined centrally by a government.

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Nicholas Chambers