What are the principles of command economy?

A command economy, also known as a planned economy, is characterized by centralized government control over the production and distribution of goods and services. The government makes all key economic decisions, determining what to produce, how much to produce, and the prices of goods, often aiming to achieve specific social or economic objectives. Resources are allocated based on a national plan rather than market forces, which can lead to inefficiencies and a lack of innovation. This system contrasts with market economies, where individual choices and supply and demand dictate economic activity.