What is the term for a system of economic organization in which the ownership and control of productive capital assets rests with the state, and resources are allocated through central planning and political decision making?

Question

Quizplus · Accepted Answer

A command economy is characterized by state ownership and control of the means of production, and central planning of all economic activities. Decisions about resource allocation and production targets are made by government officials rather than by market forces or individual businesses.

What Is the Term for a System of Economic Organization