COMMAND ECONOMY

Command Economy: translation

A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. China, Cuba, North Korea and the former Soviet Union are examples of countries that have command economies.

Also known as a planned economy, command economies are unable to efficiently allocate goods because of the knowledge problem - the central planner's inability to discern how much of a good should be produced. Shortages and surpluses are a common consequence of command economies. A free-market price system, on the other hand, signals to producers what they should be creating and in what quantities, resulting in a much more efficient allocation of goods.


Смотреть больше слов в «Investment dictionary»

COMMERCE →← COMFORT LETTER

Смотреть что такое COMMAND ECONOMY в других словарях:

COMMAND ECONOMY

эк. командная экономика (экономика, в которой предприятия поставлены под централизованный контроль государства и вся экономическая деятельность происх... смотреть

COMMAND ECONOMY

command economy: translation command economy command economy ➔ economy1 * * * command economy UK US noun [C] (also controlled economy) ECONOM... смотреть

COMMAND ECONOMY

command economy: translation  an economic system in which all decisions are made centrally by the national government, usually through the establishmen... смотреть

COMMAND ECONOMY

см. controlled economy

COMMAND ECONOMY

адміністративно-командна економіка

COMMAND ECONOMY

командна економіка

COMMAND ECONOMY

административно-командная экономика

COMMAND ECONOMY

командна економіка

T: 144