What is the main difference between command and market economies?
In a command economy only, t...
Social Studies, 05.05.2020 16:17 izzyisawesome5232
What is the main difference between command and market economies?
In a command economy only, the government owns most of the businesses and means to make money.
In a market economy, the government decides the prices to make sure everyone has equal ability to pay for items;
in a command economy, all items are provided.
A command economy is reflective of government regulation, while a market economy is reflective of what
consumers want and need.
Competition only hurts the market economy as companies change prices and goods to meet consumer wants.
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