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The discredited system of communism owned the means of production (factories and farms) and distribution (roads, rails, airlines). Since the Soviet Union collapsed in 1989, with China, Vietnam, Poland, and other eastern-bloc and Asian countries discovering their economies were more effective in a free-market system, only N. Korea and Cuba continue to follow communist economic doctrine - and both countries remain in economic chaos and disarray.

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βˆ™ 10y ago
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paulbenn

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βˆ™ 2y ago

State capitalism

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βˆ™ 16y ago

Communism.

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βˆ™ 11y ago

Socialism

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Q: A system in which the government owns and operates major businesses and controls other parts of the economy?
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Related questions

What is econony?

It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.


What is Vietnams econony?

It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.


Whats called when the government controls the entire economy?

When the government controls the entire economy, it is called a centrally planned economy.


In a what does the government controls production?

Command economy


What advantages does Cuba have being a command economy?

Because in a command economy the government is in charge of most if not all of the factors of production.


What is the form of government in which a single party controls the economy and production?

The form of government in which a single party controls the economy and production is communism.


What motivates the command economy?

Command economies are motivated by the government, which institutes how the economy will work.


A government that operates a market economy MIGHT become involved in the economy?

to provide public goods and services to its citizens.


Is mixed economy under private control?

In a mixed economy some of the businesses are under private control and some of the businesses are run by the government. There is still a free economy if there is a mixed economy.


A system in which the government controls all aspects of the economy is?

democracy


Communism is a system in which the government?

plans and controls the nation's economy


What do small businesses do for the Australian economy?

create employment and stimulate economy as they have to pay a fee to the government.