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6 January, 22:02

In what way are planned economies and command economies similar?

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  1. 6 January, 23:15
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    A planned economy is an economic system in which the government manages the economy.

    Its most extensive form is referred to as a command economy. In Command Economies, the state or government controls all major sectors of the economy and formulates all decisions about their use and about the distribution of income, much like a communist state.

    So yes. They are the same, except the Command Economy is a more extreme form of a Planned Economy.
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