command economy a. definition b. name a country c. type of economy

a. Definition: A command economy, also known as a planned economy, is an economic system where the government or central authority makes all decisions regarding the production and distribution of goods and services. This includes decisions about what to produce, how much to produce, who will produce it, and who gets the produced goods. The government typically owns the means of production, and economic planning replaces market mechanisms such as supply and demand.

b. Name a country: One well-known example of a country that has historically been associated with a command economy is the former Soviet Union (USSR). Today, while pure command economies are rarer, North Korea is often cited as a current example, and Cuba is another country with significant command economy features.

c. Type of economy: A command economy is a type of economic system that contrasts with a market economy, where decisions are made by private individuals and firms based on market forces. Command economies tend to be associated with socialist or communist political systems, where the state aims to control the economy to achieve social objectives and reduce inequalities.