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RELATIVE POVERTY LEVEL: The amount of income a person or family needs to purchase a relative amount of basic necessities of life. These basic necessities are identified relative to the current structure of society and the economy. For example, while a refrigerator would be a basic necessity for someone living in the our modern U.S. economy, it probably would not be consider a necessity for nomads of sub-Saharan Africa or aborigines of Australia.
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![](../images/a1.gif) ![](../images/b1.gif) ![](../images/c1.gif) ![](../images/d1.gif) ![](../images/e1.gif) ![](../images/f1.gif) ![](../images/g1.gif) ![](../images/h1.gif) ![](../images/i1.gif) ![](../images/j1.gif) ![](../images/k1.gif) ![](../images/l1.gif) ![](../images/m1.gif) ![](../images/n1.gif) ![](../images/o1.gif) ![](../images/p1.gif) ![](../images/q1.gif) ![](../images/r1.gif) ![](../images/s1.gif) ![](../images/t1.gif) ![](../images/u1.gif) ![](../images/v1.gif) ![](../images/w1.gif) ![](../images/x1.gif) ![](../images/y1.gif) ![](../images/z1.gif) ![](../images/nbr1.gif) PURE COMMAND ECONOMY: An economy, or economic system, that relies exclusively on governments to allocate resources and to answer all three questions of allocation. This theoretical ideal has no markets, government makes all allocation decisions. Then contrasting theoretical ideal is a pure market economy in which markets make all allocation decisions. Economic Systems | ![Economic Systems](../images/InBs13.jpg) | A pure command economy is a theoretical extreme on the spectrum of economic systems that does not actually exist in the real world. It does, however, provide a benchmark that can be used for comparison with real world economic systems. In pure command economies, governments force all allocation through involuntary taxes, laws, restrictions, and regulations. Governments set forth the laws and rules. If folks do not follow the rules, then they are punished. Governments can punish those who do not follow the rules because... well... because they are the governments. Given a choice, most humans probably would rather NOT pay taxes or have their cars safety inspected. They follow government rules because they have to, because that IS the law. The real world embodiment of a pure command economy is termed a command economy. The communistic/socialist economies of China and the former Soviet Union are primary examples of command economies. While, in theory, resource allocation could be undertaken exclusively through markets or governments, in the real world, all economies rely on a mix of both markets and governments for allocation decisions, what is termed a mixed economy.
![](../images/aw_sm.gif) Recommended Citation:PURE COMMAND ECONOMY, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024]. Check Out These Related Terms... | | | | | | | | Or For A Little Background... | | | | | And For Further Study... | | | | | | |
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RED AGGRESSERINE [What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for the last item on a shelf. Your Complete Scope
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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LCH Life Cycle Hypothesis
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