The primary advantage of a centrally planned economy is that it allows the government to guide economic growth. Central planning also allow the government to direct resources toward particular areas. It can lead to a str... More »

North Korea, Cuba and Zimbabwe are countries that have planned economies. The largest country to have a planned economy was the Soviet Union. A planned economy, or a command economy, involves near-total government contro... More »

A planned or command economy is one in which major functions, such as production and distribution of goods, are controlled by the government. In a planned economy, the government owns some or all production facilities an... More »

A centrally planned economy is characterized as an economic system in which the government dictates and regulates all areas of economic activity, such as trade, labor, distribution, production and health care. A centrall... More »

The government enhances growth and stability of the economy. It provides the infrastructure and systems that facilitate economic activity while formulating regulations and controls to ensure order and fairness in busines... More »

The primary advantage of a parliamentary system is that it makes the government accountable to the citizens for the decisions it makes by creating a group to monitor its performance. It also provides an out through a no-... More »

The advantage of a theocracy is that all members of the society theoretically share a set of common values and traditions and are compelled to obey the chief ruler, who is considered immortal and infallible. This helps e... More »