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There are two types of economic system that follows the command economy;

Communism: Government owns and operates all sources of productions, such as labor, capital, entrepreneurs, natural resource and information system. Ex: North Korea.

Socialism: Government owns and operates only selected major industries. Such as China, and some Asian countries.

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12y ago
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9y ago

Command economies often have a socialist type of government. In this type of government they have complete control over the economy but they goal is to make everyone happy.

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13y ago

socialism and communism

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Q: Command economies often have what type of governments?
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