Market Economy Vs Command Economy

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The command economy is when the Government makes all the economic choices, and own all of the businesses and land, not so good for the worker because he has no part in the decisions that determine a business also, they have choice as to what they should sell, because the Government makes all the decisions. However in the market economy, the businesses are decided by the workers. They decide what to sell, when to sell it, and how. The differences mean that they will have different communities based on the type of economy, for example, the Command economy could possibly have a worse community because the Government may make bad choices, which leads to bad business, which leads to bad community. However, the Market economy may thrive because different

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A command market and free market economy would fall under the several different types of governments. A command market economy is an economic system in which the state or government controls the factors of production, such as what goods should produced, how much should be produced and the price of which these products will be sold for (Nove,1987). Whereas a free market economy would be a system where the production and distribution of goods and services are determined by individuals, the characteristics…

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determined by family tradition. Command Government determines how to use and distribute resources. What should be produced At what price For what wages Communism and socialism: examples of command systems. Each person’s job could be determined by the state. Market Economic decisions are made by individuals, who determine how resources are allocated and goods are distributed. A person’s job is determined by his/her choice. Mixed A combination of Market and Command systems, where government…

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for the forecasts on the availability of jobs in health care, and how reliable are the forecasts? In this book, we use economics to also answer these questions: • How are the prices of goods and services determined? • How does pollution affect the economy, and how should government policy deal with these effects? • Why do firms engage in international trade, and how do government policies affect international trade? • Why does government control the prices of some goods and services, and what are the…

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