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Communism. Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.The most important originators of communist doctrine were Karl Marx and Frederick Engels.ommunism. Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.
Communism is used in an economic and political sense. It means, economically, the ownership by the state of all the means of production and distribution, and, politically, the dictatorship which permits no free elections of competing parties.