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This pizzeria is so much cheaper and better than the one across the street
A Free-Market economy is an economy that believes that competition, property, and profit is good. Businesses respond to what their customers want. So this restaurant's pizza is better than the one across the street so people want this pizza instead of the other one. Consumers have many choices and there is little to no government control at all.
A mixed economy is a mixture of a Free-Market Economy and a Command economy. Competition, property, and profit are okay. There is some consumer sovereignty. There are some choices for consumers. In this picture some people own their own car while some have to ride the bus.
A command economy is an economy where it is believed that competition, property, and profit is bad. Everyone gets the same thing, so everyone is equal. In this picture everyone has an equal amount of money and their apartment complex is the same.
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