Mixed economy v. command economy
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In Command Economy the government is involved more into our country and is in charge of what will be produced.
Command Economy & Mix Economy
In a Mixed economy the government owns some property, the government can offer some goods, and can make some rules.
I refer that my community can be more stabilized since our government is more involved, there is plenty of availability which allows us as a community to grow.
In other words this is Economic Stability.
2 goals that exists in both economies
In my community we meet with Economic Efficiency because we have great ways to produce things where we can still meet up with our basic needs.
One good thing about command is that the government does not allow fellow citizens compete with one another and will promote fairness.
Well in our country we are allowed to produce,sell, and buy without the government getting involved.
One bad thing that Command Economy has is that there is no private company in other words people can't sell things to make profit
One of the cons about Mixed economy is that there is many people who compete and does not promote fairness.
Now in some situation the government is the only one who answers the 3 economic questions
For example the government is responsible for deciding what do produce, who to produce and how to produce
For example business are responsible for deciding what & how to produce. The only thing left to the consumers is to who to produce.
For our Economy usually businesses and consumers are the ones who are responsible for the decisions
Learning about your countries Mixed economy was very interesting while listening it made feel free.
It was nice to learn a little bit more about your country and its command economy. It sure made me feel a little trapped.
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