Question

How does a socialist government with a command economy manage its economy?

Answer 1

In a socialist government, the government controls factories and other forms of production

Explanation

The key process that the government performs in a socialist government is to ensure there is a public/collective ownership of the production means with central planning of the economy. This type of governance put more emphasize on equality between citizens and economic security in the country. The main goal of a socialist government is to eliminate class distinctions.