What is meaning of command economy??
Dear student
Command economy is another name for planned economy.
Planned economy- Planned economy is one where decisions regarding investment and production are in accordance with plans as devised by state. Government plays an important role. A planned economy is also "an economic system in which the government controls and regulates production, distribution, prices, etc.
Regards
Command economy is another name for planned economy.
Planned economy- Planned economy is one where decisions regarding investment and production are in accordance with plans as devised by state. Government plays an important role. A planned economy is also "an economic system in which the government controls and regulates production, distribution, prices, etc.
Regards