The Soviet Union exemplified a command economy from "summary" of Comparative Economic Systems by Richard L. Carson
The Soviet Union, as a prime example of a command economy, was characterized by central planning and state ownership of the means of production. In this system, economic decisions were made by the government rather than by market forces. The government determined what goods and services would be produced, how they would be produced, and for whom they would be produced. One of the key features of the Soviet command economy was the absence of private ownership of businesses. Instead, all enterprises were owned and operated by the state. This allowed the government to exert control over the production process and allocate resources according to its priorities. Central planning played a crucial role in the Soviet economy, with five-year plans outlining production targets and economic goals. These plans were created by ...
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