By: Eddie Ferdon, Jada VanDunk, Jason Paragallo, Breanna Decker

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Presentation transcript:

By: Eddie Ferdon, Jada VanDunk, Jason Paragallo, Breanna Decker Command economy

Identify the Islands Resources Trees Fish Coconuts Wild Animals Salt Walter that can be boiled. Wood Palm tree leaves

The Advantages and Disadvantages of Command Economy Most problems are solved efficiently, and fast. It is efficient because there is no wasting; all good are only given when needed. Command economies can almost completely rule out corporate espionage. The Government decides what will be produced, and how much things will cost. They have a knowledge problem due to the central planners capability to decide how much should be produced. There are few decisions made by individuals.

Countries that use Command Economy North Korea Cuba Former Soviet Union (U.S.S.R) China

The 3 Basic Economic Questions Government decides on what to produce based on the basic needs of the people. The goods will be produced based on what the country has resource wise and importing and exporting other goods to supply the people with their basic needs. In the command economy wants are not met only the basic needs of the people are met.