BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Most productive resources are controlled by the government and the decisions about how the resources will be used is determined by the government. A command economy is most closely associated with socialism and/or communisms, including the following countries: North Korea, Cuba, Russia, and China.

Detailed explanation-2: -Key Takeaways Command economies have been associated with communist nations whereas free-market economies have been associated with democracies. Command economy advantages include low levels of inequality and unemployment and the common objective of replacing profit with equality as the primary incentive of production.

Detailed explanation-3: -A command economy is characterized by the most government control over the economy.

Detailed explanation-4: -Command economic system Also known as a planned system, the command economic system is common in communist societies since production decisions are the preserve of the government. If an economy enjoys access to many resources, chances are that it may lean towards a command economic structure.