Centrally Planned Economy Examples

The economy is a social system with in the environment where as some people work for others to make resources into goods others purchase for their needs. For instance, a local main factor here with its 2 other locations from a close by city to NY produces school furniture from basic desk in the wood plant to items from its two steel plants. The steel plants manufacture lab equipment, heating units, hoods, other operating room and/or sterilization machines needed in hospitals and surgical sights, at its steel plants. This companies owner with his group of employees from every level of engineering, marketing, sales, all the way to the factory workers themselves and the installers produce the means. Means that are needed and purchased by places like the local Bethel University Diagnostic Center, Surgical independent places as well as our very own HCMC lab testing

These economies think the government or state knows what is best for its people; whereas, the people have no way to speak for themselves. A great example of this would be communist and socialist systems for instance Kim Jon-il in Korean now and Hitler in Germany many decades ago (“Kim Jong-um: Military Leader, Dictator”, n.d.). Then a subsistence economy is where people meet their own needed by producing their own items from what nature has given them as well as their god given talents (“What Is A Subsistence Economy?”, n.d). They plant their food, hunt for it, they use all mother nature has provided to make handmade items even clothing and blankets. Some examples of this could be the Cherokee Indians and some existing tribes in countries in Africa. These two, centrally planned and subsistence economies, are often considered mixed economies due to the borrowing from the performance of one another and are in fact hybrid