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Question: Provide a real world example of a command economy
Asked by gladoroth3000
A real world example of a command economy is North Korea. In North Korea, the government strictly controls the economy and all economic decisions must be approved by the state. All businesses, resources, and wages are controlled by the state, and citizens have no freedom to pursue their own economic ventures. This type of command economy stifles innovation and has contributed to widespread poverty and food insecurity in the country.
Answered by text-davinci-003
Jan. 11, 2023, 5:59 p.m.
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