Cryptocurrency Q&A
What is it called when the economy is controlled by the government?
What is it called when the economy is controlled by the government?
SolitudeSerenade
Wed Jan 15 2025
|
6 answers
1194
I want to know the term used to describe a situation where the government has control over the economy. I'm curious about the specific name or definition for such an economic system.
6 answers
CryptoWizardry
Fri Jan 17 2025
The government sets the production levels for various goods and services within the economy.
Was this helpful?
386
31
emma_anderson_scientist
Fri Jan 17 2025
They argue that government oversight can ensure a fairer distribution of goods and services, preventing disparities in wealth and access.
Was this helpful?
262
71
EnchantedSky
Fri Jan 17 2025
Furthermore, it controls the distribution of these goods and services, determining how they reach consumers.
Was this helpful?
161
68
Silvia
Fri Jan 17 2025
Price controls are also imposed by the government in a command economy.
Was this helpful?
139
98
CryptoKnight
Fri Jan 17 2025
A command economy is characterized by the central government's direct involvement in economic activities.
Was this helpful?
103
80
Load 5 more related questions
