A command economy is a system where the government controls all major aspects of economic production, distribution, and decision-making. While most countries today operate under mixed economies, some nations still exhibit characteristics of a command economy. Which Country Is The Closest To A Command Economy?
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North Korea is widely considered the closest example of a command economy. The government exerts nearly total control over resources, production, and trade. Industries are state-owned, and private enterprise is minimal or non-existent. Policies and resource allocation are driven by central planning rather than market forces, making it a prime example of this economic model.
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