A command economy is an economy, which is planned by the government. The command economy is under the control of the governing party. The production and distribution of goods and services is totally all managed by the government. The distribution may use the rationing system or people will have to queue. The command economy relies on 5, 10, 15 year plans to push economic growth within the nation. The plans require a large amount of information, which is …
showed first 75 words of 557 total

showed last 75 words of 557 total
…great inflation, high unemployment rate, and lowered GDP. However afterwards, the economy recovered and there was liberalization, stability, and privatization. The Polish were very successful in creating new business which responded to the market signals. There was also competition which leg to increased efficiency and productivity and lower prices of the goods. The objective of the Shock Therapy was to set up a "market system akin to the one found in the industrially developed countries."