TERM OF THE DAY MAY 25, 2016 command economy     An economy in which market mechanisms are replaced by a centralized state authority whichcoordinates all economic activity through commands, directives and regulations for the purpose of achieving broader socio-economic and political objectives. In a command economy, most forms ofoutput are publicly owned but the state exerts control over production, distribution and prices. For example, … Read more USAGE EXAMPLE The command economy did… Read More TERM OF THE DAY MAY 25, 2016 command economy

Did you know… … that today is Eiffel Tower Dedication Day? The Universal Exposition opened in Paris on this day in 1889, marking the completion and dedication of the Eiffel Tower. Once regarded with skepticism, the Eiffel Tower is now considered an architectural wonder and attracts more visitors than any other paid tourist attraction in the… Read More Did you know…