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Advantages And Disadvantages Of Command Economy

711 Words3 Pages

Command economy system is a system and the government decides what goods should be produced, how much goods should be produced, and the price of goods to be sold. It is not the free market to control all business and there is no competition. It is an important feature of any communist society. For instance, Cuba, North Korea and the former Soviet Union and China. Besides, China has been commanding the economy for decades since it transformed into a mixed economy with communism and capitalism.

Advantages
1. A lot of resources quickly and effectively mobilized.
2. To create industrial power, large-scale projects in the realization of social goals at the same time, to complete.
3. Personal autonomy is no longer the driving force for business success. The greater interest of society is the focus of the economy. Society as a whole benefits from success, not just a few people.
4. This economy can transform society and meet the government 's vision of the state or society.

Disadvantages
1. The needs of society are often overlooked to improve the economy. Employees have no choice where they can be employed or where they can move.
2. Black market broke out in the command economy. Due to government restrictions, the command economy did not provide good and service began to be offered on the black market.
3. The quantity of goods being produced is not balanced. A project will be mass-produced and another project will not be sufficient to support economic needs. It is difficult for

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