A command economy is characterized by government control over production, pricing, and wages, exemplified by countries like Cuba, North Korea, and the former Soviet Union.
In a command economy, the government decides what goods and services will be produced and what prices will be charged for them. The government also determines the methods of production and sets wages for workers. Necessities like healthcare and education are provided for free. Examples of command economies include Cuba, North Korea, and the Soviet Union in the past.
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