Under a command economy, the private ownership of business and the means of production is prohibited
What is prohibited in a command economy?
In a command economy, which is controlled by a central, often authoritarian government, all forms of private ownership of property is prohibited. This is to avoid the nation's wealth accumulating in the hands of a few. Also prohibited is private investment and return.
Does command economy have public ownership?
command economy, economic system in which the means of production are publicly owned and economic activity is controlled by a central authority that assigns quantitative production goals and allots raw materials to productive enterprises.
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