What is a command economy?

In this video, we break down the fundamental differences between a command economy and a free market. Discover how government control shapes production, pricing, and employment in a command economy, compared to the profit-driven incentives of a free market. Learn about historical examples, the challenges faced by command economies, and why many countries have shifted toward free-market principles.

#CommandEconomy #FreeMarket #Economics #EconomicSystems #GovernmentControl #MarketForces #SovietEconomy #ChinaEconomy #NorthKorea #Cuba #PlannedEconomy #EconomicGrowth #ResourceAllocation #Innovation #ConsumerDemand #EconomicChallenges #ProfitIncentives #StateOwnership #Capitalism #Socialism

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