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Soviet Union was first official command economy (1917-1991)

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Is both communist and socialist

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Command economy= strict parents

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North Korea, Cuba, and Belarus are command economy.

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controls everything

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it's a centralized gov.

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government controls what is produced and how its made and given.

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where the gov. owns all resources, sets prices, and tells businesses what and how much to make all, theoretically, to maximize the populations welfare.

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everything is public most of the time.

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Jobs are distributed by how skillful you're so, jobs are given out equally

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very low percentage of unemployment

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resources/ goods are affordable

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main goal is to take care of its citizens.

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all citizens have a job since government controls everything.

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provides resources faster during natural disasters, wars, etc.

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aims to distribute wealth equally.

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their are no innovative ideas.

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no freedom in choosing what job/career you want because government chooses for u.

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It controls all production like money, land, etc.

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It's leading goal is to not make profit in any way.

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theirs no competition so theirs 'material deprivation'

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You can't invest your money because, everything belongs to gov.

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Government controls your monthly/ yearly income.

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Governments plan is what gives orders to all industries.