Command economy (Communism) All factors of production are owned and controlled by the government as proxy for ownership by all citizens Production is based on centralized state planning to meet the needs of the state and not necessarily the needs of its citizens The state dictates occupational choices and sets prices and wages Intent is to create Karl Marx's concept of a classless society where all contribute according to their ability and receive benefits according to their needsCommand Economy (Communism) ◼ All factors of production are owned and controlled by the government as proxy for ownership by all citizens ◼ Production is based on centralized state planning to meet the needs of the state and not necessarily the needs of its citizens ◼ The state dictates occupational choices and sets prices and wages ◼ Intent is to create Karl Marx’s concept of a classless society where all contribute according to their ability and receive benefits according to their needs