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An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
The administrative-command system (Russian: Административно-командная система, romanized: Administrativno-komandnaya sistema), also known as the command-administrative system, is the system of management of an economy of a state characterized by the rigid centralization of economic planning and distribution of ...
The legislation authorizes small private ventures of individual peasants and craftsmen based on their own labor and forbids the exploitation of the labor of others, in addition to the socialist system of economy, which is the major type of economy in the Republic. The official economic plan sets and directs the Republic's economic course.
National economies can be run from the top down, so to speak, in what is sometimes called a command economy or they can be run from the bottom up in what is sometimes called a free market. In the ...
The unique features of Soviet-style economy were an ideologically driven attempt to build a total economic plan for the whole society, as well as unquestioned paradigm of superiority of the state socialist system. Attempts to modify or optimize the former based on pragmatic analysis of economic outcomes were hindered by the latter.
The economy of the German Democratic Republic (East Germany; GDR, DDR) was a command economy following the model of the Soviet Union based on the principles of Marxism-Leninism. Sharing many characteristics with fellow COMECON member states — the East German economy stood in stark contrast to the market and mixed economies of Western Europe ...
Planned economies contrast with command economies in that a planned economy is "an economic system in which the government controls and regulates production, distribution, prices, etc." [39] whereas a command economy necessarily has substantial public ownership of industry while also having this type of regulation. [40]
A state-directed economy is a system where either the state or worker cooperatives own the means of production, but economic activity is directed to some degree by a government agency or planning ministry through mechanisms such as indicative planning or dirigisme. This differs from a centralized planned economy, or a command economy, in that ...