WORLD HISTORY

Detailed explanation-1: -The command economy, also known as a planned economy, requires that a nation’s central government own and control the means of production. Private ownership of land and capital is nonexistent or severely limited.

Detailed explanation-2: -Communism is an economic ideology that advocates for a classless society in which all property and wealth are communally-owned, instead of by individuals.

Detailed explanation-3: -In a true communist economy, the community makes decisions. In most communist countries, the government makes those decisions on their behalf. This system is called a command economy.

Detailed explanation-4: -A command economy is an economic system where the government has control over the production and pricing of goods and services.

Detailed explanation-5: -The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government.