A controlled economy is a type of economic system where the government exerts significant control over production, distribution, and consumption of goods and services, rather than relying on market forces. This model is often associated with socialist and communist economies.
The basic means of achieving economic goals inherent in the economic structure of a society. Major economic systems include capitalism, fascism, socialism, and communism.
A managed economy is one in which the government intervenes extensively to direct economic activity. Such intervention is characteristic of socialist and communist economies, in stark contrast to capitalist economies where market forces predominantly guide economic activity.
A comprehensive overview of Marxism, detailing the political, social, and economic theories of Karl Marx. Examines applications in communist and socialist economies.
Socialism is an economic system characterized by government ownership or control over the major critical industries, while allowing collective ownership and some private ownership in less critical sectors like agriculture and services.
