COMMAND SYSTEM

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Without the power of coercion (coercion is the use of threats or force to persuade someone to do something), the central authority would not be able to function efficiently and the whole system would soon fall apart.

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A command economy requires a large amount of incredibly complicated planning in order to efficiently allocate and distribute resources. Unfortunately, in practice, human error or corruption often occurs because of the immense complexity of the economy, leading to misallocation of resources.

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In a command economy, major economic decisions are made by officials and bureaucrats. Wholesalers are a type of firm or business, that will also be under the authority of the government in a command economy.

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In a command economy, major economic decisions are made by officials and bureaucrats. Manufacturers of industrial goods’ are a type of firm or business, that will also be under the authority of the government in a command economy.

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In a command economy, major economic decisions are made by officials and bureaucrats.

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This is a strength of a traditional system. Command economies, can be very big, like the former Soviet Union.

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This is a strength of a market economy. In a command economy, consumers are not able to make decision on what type of goods they want to have.