Communist economies are usually planned economies, meaning the government decides what to produce, how much, and at what price. There is no private ownership of large businesses or land. While this can ensure equality in access to basic needs like education, healthcare, and food, it can also lead to:

• Low productivity

• Lack of innovation

• Shortages and inefficiencies

• Corruption and bureaucracy

For example, the Soviet Union faced severe economic issues in the 1980s due to its rigid system.