What Are Pros And Cons Of A Command Economy?

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A sense of community within the economy
Income equality
Potential to get things done very quickly

Little innovation
No competition within the economy
Firms will have a hard time competition in the world market
The quality of the good are detrimental
Inefficient allocation of resources
Lack of Freedom
Lack of personal gain
Generally, there is a lower standard of living when compared to a free market economy

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