What are the characteristics of a socialist economy? What are the pros and cons of this type of economy?

The pro is Political Control, the cons, however, are many.

Step-by-step explanation:

However, A Socialist Economy cons outweigh its pros. The only thing that is a PRO is you dictating it, preventing people from success. Wanna know the cons? The Cons are more Regulations, to which chokes more businesses of their money, they function, & motive. To which it has a chain reaction of: The Businesses not employing people, more people are out of work, which means more people ain't buying stuff to support the businesses, which means the businesses are out of business, they shut down.

The Economy ain't something that you can stop, or go, & it ain't statistics. An Economy is just ... people, that's it. It's just people, they are the ones that work, run businesses & factories, they are the ones that buy N' sell. They create, craft, invent, innovate, etc.

Here's a quote that I have: "The more you choke it from breathing in, the less it breathes out". That's my stance on regulation & Socialism, to which Socialism is just Voluntary Communism, & A Permanent Ideological belief that Big government Involvement is the way to go.

To which, it's not!