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 »

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 »

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 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 »

Iran, Cuba, China and North Korea have command economies. In a command or planned economy, a central government authority formulates economic decisions, and the government implements each plan through legislation, direct... 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 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 »