Concept information
Preferred term
command economies
Definition
- In market economies, decisions about production, pricing, distribution, and investment are made by private owners of capital and are motivated by profit maximization. In command economies, by contrast, the state owns all productive assets and controls and directs the economy. [Source: Sociology of Work: An Encyclopedia; Command Economies]
Broader concept
Belongs to group
URI
http://data.loterre.fr/ark:/67375/N9J-JVD897N8-7
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