What is the advantage and disadvantage of command economy?
I think the Advantage of Command economy are: plan & control by government that contributes to a long term planning process, the governmetn determine the price and good produce that makes them to produce good quality. Command economy also provides relief in deep financial crisis. Disadvatages are : The state owns all properties and controls all resources & capital, The rewards, wages are base on the social value of the service. No profit and no competitiveness. No incentives for the effort contributed.
