The disadvantages of centrally planned economies include the inefficient distribution of resources and the suppression of economic freedom. Centrally planned economies are generally associated with dictatorial political ... 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 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 »

Although the world has seen multiple centrally planned economies, two of the few remaining examples as of 2015 are Cuba under Fidel and Raul Castro and North Korea under the Kim dynasty, according to the Heritage Foundat... 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 »

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 »

Mixed economies essentially create a balancing act between the private sector and government: these economies allow governments the opportunity to step in to correct market failures, but sometimes draw criticism for enab... More »