No Bull Economics Lessons

Macroeconomics & Microeconomics Concepts You Must Know

Essential Questions

What is a command economy?

Posted on April 15, 2014 at 9:30 AM

A command economy occurs when central planners (not markets) make all of the economic decisions. The planners determine what will be produced, how many units will be produced, and for whom the goods will be produced for. Command economies in practice are highly inefficient compared to market economies.

AP Macroeconomics / AP Microeconomics Unit 1 Basic Economic Concepts

Categories: AP Macroeconomics, Macro Unit 1 Basic Economic Concepts, Micro Unit 1 Basic Economic Concepts

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.

You must be a member to comment on this page. Sign In or Register